UPDATE: Citi Downgrades Virgin Media

According to a research report published today, Citi has downgraded Virgin Media VMED from Buy to Neutral. Citi said in the report, “Correcting the discrepancy between our coverage of the US and UK listings of Virgin Media we are cutting our price target for VMED.L from £19.60 to £18.30 and our rating from Buy to Neutral.” Virgin Media closed yesterday at $24.22.