Axel Springer: BarCap downgrades to 'equal weight'
(CercleFinance.com) - Barclays Capital downgraded its rating on German publisher Axel Springer from "overweight" to "equal weight," saying that it now sees limited upside potential in the share price.
In a research report, BarCap points out that Axel Springer's share price has continued to rise since its positive Q3 report, having now outperformed the STOXX Europe 600 index by 32% year-to-date.
However, Barclays thinks that further material share price upside would be "hard to achieve," unless best-case operational scenarios unfold, with the broker maintaining its target price unchanged at 67 euros.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
In a research report, BarCap points out that Axel Springer's share price has continued to rise since its positive Q3 report, having now outperformed the STOXX Europe 600 index by 32% year-to-date.
However, Barclays thinks that further material share price upside would be "hard to achieve," unless best-case operational scenarios unfold, with the broker maintaining its target price unchanged at 67 euros.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.