Quantcast

Galvan Research and Trading Review ITV

December 17, 2010

Notwithstanding a solid third financial quarter performance, Independent Television (ITV) has slipped on the share market to be down overnight 3.8 percent.

(PRWeb UK) December 16, 2010

Notwithstanding a solid third financial quarter performance, Independent Television (ITV) has slipped on the share market to be down overnight 3.8 percent.

The situation has prompted stock-brokering and advisory house KBC Peel Hunt to downgrade its rating of the British broadcaster.

ITV had done well from the soccer World Cup, but executives are forecasting a slow-down for the coming year, with growth from commercial sales for this fourth quarter to be around 10 percent.

KBC Peel Hunt is not over-reacting, and certainly doesn’t make any gloomy prognostications, but comments evenly that the television company had performed well through the third quarter, even earning better than expected so far into the fourth. But in a circuitous report the broker says the outlook remains cautious, and that all concerned are aware that until the last of the recession is dead and buried, people will simply not spend any more than they feel they have to. ITV’s forecasts in KBC Peel Hunt’s perspective remain unchanged; with the target share price still set at the 75p mark, but is having to wear a cut from a “buy” recommendation to one of “hold”.

Galvan Research and Trading spokesman, Ed Woolfitt, concedes that television advertising revenue is definitely on the rise, but he favours caution with ITV for now. Shares, he agrees, have enjoyed a markedly strong run for the past four months, but he says Galvan’s advice is to take some profits while still aiming to “pick up stock on the dips”.

Risk Warning Notice: Galvan Research And Trading Ltd is authorised and regulated by the Financial Services Authority (FSA). Whilst every attempt is made to ensure the accuracy of the information provided, no responsibility can be accepted for any inaccuracy. The information provided cannot be relied upon as constituting a recommendation, nor construed as any offer to sell, or any solicitation of any offer to buy investments. No liability is accepted for any loss whether direct or indirect, incidental or consequential, arising out of any of the information being untrue and / or inaccurate, except to the extent caused by the wilful default or gross negligence of Galvan Research And Trading, its employees, or which arises under the Financial Services And Markets Act 2000.

###

For the original version on PRWeb visit: http://www.prweb.com/releases/prwebGalvan-Research-/and-trading/prweb4904284.htm


Source: prweb



comments powered by Disqus