Trinity Mirror upgraded by Numis
16th May 2013, 09:52
Numis has upgraded its recommendation on newspaper group Trinity Mirror [LON:TNI] to ‘buy’ from ‘add’ after the company published a “solid” first quarter interim management statement for the 17 weeks ended 28 April 2013.
The City broker has a price target of 132 pence per share on the stock offering a potential upside in excess of 40 per cent.
At 9:50am: Trinity Mirror share price was up 8.88 pence at 101.63 pence.
I'm sure this will prove to be one of those 'value trap' shares that seem cheap but never actually recover...pe ratio of 3. the cashflow is more interesting though, it paid down debt in no time after acquisition of local world regional newspapers. Also is using it's printing presses for the guardian and other dailies.that pension deficit though just keeps on growing.....