Sharewatch: ITV Partners See Heavy Volumes
Carlton and Granada remained in the spotlight yesterday as analysts continued to revise their forecasts for the group after the Competition Commission cleared the way for their planned £4 billion merger (see ITV Cleared To Merge With Sales Houses Intact)
The stocks still saw heavy volumes and continued to rise, despite assertions that valuations had spiked and that merger savings have already been priced in. The stocks were seen up by 4.51% and 4.01% respectively. However, Deutsche Bank increased its price targets on the groups to 125p and 230p respectively.
Broader market sentiment was dented by the weakening dollar, which sent the Euro to within a cent of its all-time high. This raised fears for the Eurozone’s fragile economic recovery.
The closing prices of media company shares on Wednesday were:
