Independent News & Media fell nearly 3 per cent in early trading to a 52 week low of 17 cent after it was downgraded by an equity analyst at Davy Stockbrokers.
Following interim results at the end of August, analyst Simon McGrotty said Davy had revised its forecasts and rating to reflect “greater uncertainty and continued limited visibility and volatility in advertising expenditure”. Davy now expects INM’s 2012 earnings before interest and taxation to come in at €56...
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