- Russian broadcaster CTC Media (NASDAQ:CTCM) is 3.6% lower this afternoon after a Deutsche Bank downgrade to Hold.
- The analysts lowered their price target on the shares to $2.20, from $5.30. Shares are trading currently on Nasdaq at $1.99.
- The stock has shed more than 80% of value over the past 12 months, in part due to Russia's new foreign-ownership law that will require foreign companies to cut their stakes in Russian media to no more than 20%.
- CTC Media will announce Q2 results on Wednesday, July 29 and will hold a conference call that day at 5 p.m. UK time (noon ET).
- Previously: CTC Media up 4.6% on Usmanov $200M bid for control (Jul. 06 2015)