UPDATE: Deutsche Bank Upgrades CTC Media to Buy
According to Deutsche Bank, CTC Media (NASDAQ: CTCM) is upgraded to Buy.
Deutsche Bank said that the recent share price weakness creates an attractive entry point for long-term investors. “We expect 10% EPS CAGR in 2010-13F. We cut our target price to USD13, reflecting new estimates and lower peer multiples, but its upside potential and 20% discount to peers warrant an upgrade to Buy.”
CTC Media closed on Friday at $10.10.
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