Tuesday August 25, 08:41 PM
STOCKS NEWS US-Central European Dist falls after downgrade
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Real (Frankfurt: BJU.F - news) -time Equity news
U.S. stock market report
1521 ET 25Aug2009-Central European Dist (NASDAQ: CEDC - news) falls after downgrade
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Central European Distribution Corp shares fell 5.8
percent to $31.23 on Tuesday after Morgan Stanley (NYSE: MS - news) cut its
rating on the stock, saying the looks expensive versus its
peers.
The firm lowered its rating on the Polish vodka-maker to
'underweight' from 'equal-weight' and noted that while it does
think the company should be able to deliver good market share
driven sales growth over the long-term, uncertainty over
near-term sales momentum and earnings forecasts don't justify
the current valuation.
Reuters
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