DMGT’s Q3 IMS flagged that the company expects full year results to be "towards the lower end of market expectations" due to challenging print advertising conditions. This was a disappointing update and has driven forecast downgrades, but we believe that it should not obscure the group’s long-term attractions and that subsequent share price weakness has been overdone. We have reduced our target price to 991p, but as this suggest c.20% total return upside potential, we reiterate ou
24 Jul 2015
Cautious Q3 update
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Cautious Q3 update
- Published:
24 Jul 2015 -
Author:
Roddy Davidson -
Pages:
4
DMGT’s Q3 IMS flagged that the company expects full year results to be "towards the lower end of market expectations" due to challenging print advertising conditions. This was a disappointing update and has driven forecast downgrades, but we believe that it should not obscure the group’s long-term attractions and that subsequent share price weakness has been overdone. We have reduced our target price to 991p, but as this suggest c.20% total return upside potential, we reiterate ou