Bank of America Corp. Downgrades CTC Media to Neutral (CTCM)
CTC Media (NASDAQ:CTCM) was downgraded by investment analysts at Bank of America Corp. to a “neutral” rating in a note issued to investors on Thursday, StockRatingsNetwork.com reports.
Shares of CTC Media (NASDAQ:CTCM) opened at 11.14 on Thursday. CTC Media has a one year low of $9.50 and a one year high of $13.95. The stock’s 50-day moving average is $12.68 and its 200-day moving average is $11.92. The company has a market cap of $1.735 billion and a P/E ratio of 10.12.
A number of other firms have also recently commented on CTCM. Analysts at UBS AG initiated coverage on shares of CTC Media in a research note to investors on Friday, January 10th. They set a “neutral” rating on the stock. Separately, analysts at JPMorgan Chase & Co. cut their price target on shares of CTC Media from $14.50 to $13.80 in a research note to investors on Friday, November 8th. Finally, analysts at Deutsche Bank downgraded shares of CTC Media from a “buy” rating to a “hold” rating in a research note to investors on Friday, November 8th. They now have a $12.90 price target on the stock, down previously from $13.20. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $12.86.
CTC Media, Inc operates three Russian television networks CTC, Domashny and Peretz. CTC network offers entertainment programming targeted at 6-54 year-old viewers.
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