Deutsche Bank Downgrades Central European Media Enterprises (CETV) to Hold

Deutsche Bank's Lukasz Wachelko downgraded shares of Central European Media Enterprises (NASDAQ: CETV) from Buy to Hold in an intraday research note Tuesday. The analyst's price target was lowered from $12.80 to $8.30.

Wachelko is advising "a wait-and-see approach" amid recent indications the company intends to address the "'unacceptable' leverage" in the ad market "using the capital markets."Although the analyst said this would normally trigger a sell-off, "we see the CME case as somewhat different. Recall that in early 2009, Time Warner (NYSE: TWX) invested $242 million buying fresh equity at blended 27% premium to the market. As we cannot rule out another lifeline from Time Warner..." Wachelko is staying on the sidelines for now.

For an analyst ratings summary and ratings history on Central European Media Enterprises click here. For more ratings news on Central European Media Enterprises click here.

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