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UPDATE: Credit Suisse Upgrades Central European Distribution to Neutral on Limited Downside

Related CEDC
Stocks Hitting 52-Week Lows
Central European Distribution Corporation Announces Confirmation Hearing Date of Plan of Reorganization

Credit Suisse upgrades Central European Distribution (NASDAQ: CEDC) and reiterates its $3 price target on shares.

Credit Suisse says, "We upgrade our rating from Underperform to Neutral as the share price has corrected below our current TP of US$3, to which we see limited downside. Corporate action news is key: While underlying company fundamentals and prospects for turnaround remain unclear, the stock will likely continue to trade on corporate news in the near term. We expect finalization of a deal with Mr. Tariko, hence we are not concerned about solvency risks on notes due in 2013.

CEDC closed at $2.80 on Monday.

Latest Ratings for CEDC

DateFirmActionFromTo
Apr 2013Goldman SachsTerminatesNeutral
Oct 2012Bank of AmericaMaintainsUnderperform
Oct 2012Goldman SachsMaintainsNeutral

View More Analyst Ratings for CEDC
View the Latest Analyst Ratings

Posted-In: Credit SuisseAnalyst Color Upgrades Price Target Pre-Market Outlook Analyst Ratings

 

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