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Ascential downgraded by Deutsche

16 June 2017 15:08

Deutsche Bank downgraded its investment rating on business-to-business media company Ascential (LON:ASCL) yesterday to hold from buy, stating that its superior growth is now reflected in the share price and the valuation is a fair reflection of the risk-reward.

The City heavyweight added: "Up until now, the investment case on Ascential has been very straightforward: superior organic growth versus peers at a valuation discount. However, as the stock price crossed the 300p level, the investment case has become more nuanced."

Analysts have increased their target price to 350 pence per share from (330 pence).

At 3:08pm: (LON:ASCL) Ascential Plc share price was +3.1p at 342.7p

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