Wunderlich started coverage on shares of Central European Media Enterprises Ltd. (NASDAQ:CETV) in a note issued to investors on Thursday. The brokerage set a “buy” rating and a $3.50 price target on the stock. Wunderlich’s target price points to a potential upside of 56.25% from the stock’s previous close.

Separately, Peel Hunt reaffirmed an “outperform” rating on shares of Central European Media Enterprises in a research note on Friday, September 9th.

Shares of Central European Media Enterprises (NASDAQ:CETV) opened at 2.24 on Thursday. The firm’s 50 day moving average is $2.34 and its 200 day moving average is $2.40. Central European Media Enterprises has a 52-week low of $1.92 and a 52-week high of $2.96. The stock’s market capitalization is $318.88 million.

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Central European Media Enterprises (NASDAQ:CETV) last issued its earnings results on Tuesday, July 26th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by $0.08. Central European Media Enterprises had a negative return on equity of 157.82% and a negative net margin of 34.79%. The company earned $175.20 million during the quarter, compared to analyst estimates of $166.80 million. Equities analysts expect that Central European Media Enterprises will post ($0.80) earnings per share for the current year.

Several hedge funds have recently modified their holdings of the company. NN Investment Partners Holdings N.V. acquired a new stake in shares of Central European Media Enterprises during the second quarter worth about $169,000. Emerald Acquisition Ltd. acquired a new stake in shares of Central European Media Enterprises during the second quarter worth about $272,000. Spark Investment Management LLC increased its stake in shares of Central European Media Enterprises by 545.7% in the first quarter. Spark Investment Management LLC now owns 121,400 shares of the company’s stock worth $309,000 after buying an additional 102,600 shares during the last quarter. California State Teachers Retirement System increased its stake in shares of Central European Media Enterprises by 2.7% in the second quarter. California State Teachers Retirement System now owns 160,356 shares of the company’s stock worth $338,000 after buying an additional 4,252 shares during the last quarter. Finally, FMR LLC acquired a new stake in shares of Central European Media Enterprises during the second quarter worth about $367,000. 31.19% of the stock is owned by hedge funds and other institutional investors.

About Central European Media Enterprises

Central European Media Enterprises Ltd. (CME Ltd.) is a media and entertainment company operating in Central and Eastern Europe. The Company’s assets are held through a series of Dutch and Curacao holding companies. The Company manages its business on a geographical basis, with six segments: Bulgaria, Croatia, the Czech Republic, Romania, the Slovak Republic and Slovenia.

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