Tuesday May 6, 12:40 PM
ITV "neutral," target price reduced
By J.P. Morgan Securities
LONDON, May 6 (newratings.com) - Analysts at JP Morgan maintain their "neutral" rating on ITV Plc (LSE: ITV.L - news) (ticker: ITV-GBX), while
reducing their estimates for the company. The target price has been reduced from 96p to 74p.
In a research note published this morning, the analysts mention that the company is facing challenges due to the deteriorating and uncertain economic environment and a potential decline in advertising spending in the retail sector in 2H08. The adjusted EPS estimates for 2008 and 2009 have been reduced from 4.78p to 4.51p and from 6.34p to 5.25p, respectively.
© 2008 New Ratings
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