Market Report Shares Tumble As Emi Fails to Hit Right Note with City

Evening Standard - London › January 19, 2005

Linked as:

Summary

MUSIC maker EMI hit a duff note in the City today with the shares falling 43/4p to 2651/4p - one of the biggest losers among second- line companies.

Broker Credit Suisse First Boston has decided to start covering the shares and is not too impressed with what EMI has to offer. It has kicked off coverage with an underperform rating and a lowly 240p target price. The broker is downbeat about the group, which boasts artists such as Robbie Williams and Norah Jones on its record label, and says it is unlikely it can achieve the forecast of 3% sales grow in the short term.

See the full content of this document

Extract

Market Report Shares Tumble As Emi Fails to Hit Right Note with City

It adds that there may be some recovery as the industry has experienced a significant change for the better. But longer term the outlook r...

See the full content of this document