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The Expert View: Aberdeen Asset Management, UTV, Enquest
by Chris Marshall on Aug 28, 2013 at 05:01
Sell UTV after disappointing results
‘Sell’ shares in TalkSport owner UTV Media (UTV.L), says Peel Hunt analyst Patrick Yau after the company produced results that prompted the analyst to cut his forecast for the third time in 12 months.
UTV reported a 10.3% decline in revenues in the first half of the year, hit by a tough advertising market and the lack of a major sporting event.
Yau’s downgrade to sell also comes because the share price has risen above his 155p target price.
He does however foresee a better performance in the 2014 World Cup year.
UTV shares yesterday fell 0.7% to 170p.
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