Deutsche Bank puts out ’sell’ rating on Trinity Mirror shares

Posted by Patrick Smith on 21 April 2008 at 12:26
Tags: Journalism, Media Business, National Newspapers, Regional Newspapers

Trinity Mirror’s shares took a dip this morning after Deutsche Bank downgraded its guidance on the national and regional publisher from ‘hold’ to ’sell’, according to Reuters.

Trinity’s share price was down to 12-3/4 pence at 292-1/2 by 10.38am today and the bank has put the company’s advertising revenues forecast on a par with rival Johnston Press,

Deutsche’s Johnston forecast was made before early April’s housing/mortgage problems, meaning the reality for both companies could be worse. The bank put its Trinity target price down from 340 to 250 pence.

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