Broadcaster CME surges 5 pct on research upgrade

16.01.2007 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

Television broadcaster Central European Media Enterprises (CME) jumped 5 percent on Tuesday on a bullish investor recommendation on the stock...

...by Czech broking house Wood & Company.

The stock closed 4.97 percent higher at 1,733 Czech crowns ($81.02) on the Prague Stock Exchange. It gained 4.91 percent to $80.35 on the U.S. Nasdaq by 1515 GMT.

Wood & Company boosted its 12-month price target to $100 from $69 and kept its rating at "buy", citing an improving profit growth outlook for the group's Czech TV station Nova, which makes up for half of estimated core earnings at CME.

"The strong rise ... is a reaction to the rise in investment recommendation by Wood & Company," said Pavel Sudek, trader at Czech stock-broking firm Atlantik Financni Trhy.

[PRAGUE/Reuters/Finance.cz]

Autor článku

 

Články ze sekce: Zpravodajství ČTK