Thursday May 8, 12:04 PM
Carphone Warehouse downgraded to "neutral"
By J.P. Morgan Securities
LONDON, May 8 (newratings.com) - Analysts at JP Morgan downgrade Carphone Warehouse Group (ticker: CPW-GBX) from "overweight" to "neutral." The target price is set to 380p.
In a research note published this morning, the analysts mention that there
is limited near-term upside to the company's share price, which has surged by 30% over the last three weeks. The analysts add, however, that the company is likely to benefit in the long term from free cash flow growth at its retail segment and its MVNOs/Best Buy joint-venture turning profitable.
© 2008 New Ratings
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