JP Morgan Reports on CTC Media

JP Morgan commented on CTC Media (NASDAQ: CTCM) in a report released today. In the report, JP Morgan was positive in its assessment of the company.

JP Morgan writes, "We keep our preference for CTCM vs. other CEEMEA broadcasters on greater market visibility going into 2011, on ad price increases, scope for a stronger cyclical rebound in the next couple of years and better near term cash return prospects. We also believe that the company's already significant ability to leverage its Russian produced content in the Ukraine (currently through sublicensing, maybe one day with a network) and Kazakhstan (through a well developing network) is a strong differentiator – something akin to what Mexico's Grupo Televisa enjoys leveraging its Mexican produced content with the Hispanic community in the United States, although likely on a smaller scale. This is also a strong differentiator vs the other broadcasters in CEEMEA in our view, strongly mitigating the lesser exposure to pay TV."

JP Morgan currently has an Overweight rating on CTC Media. Shares of CTC Media closed at $20 on Friday, up $0.43 from the opening bell.