Seeking Alpha

CTC Media downgraded to Hold at Deutsche Bank

  • CTC Media (CTCM -0.3%) catches a downgrade from Deutsche Bank to Hold from Buy (PT to $12.90 from $13.20) following the company's Q3 report.
  • Analyst Igor Semenov cited the stock's 18% run from the start of Q4, the "insufficient upside to our target price, as well as risks of revenue growth slowdown for the near term."
  • Semenov continued, "the near-term outlook is getting more cloudy ... [W]e expect the TV ad market growth to moderate to mid-single digits in 4Q13."
  • Analysts are largely on the fence when it comes to the company, with 1 Buy, 5 Holds, and 2 Sells.
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