2352 GMT - Nine Entertainment's trading update could suggest that some analysts may have set annual expectations too high, E&P analyst Entcho Raykovski warns. He tells clients in a note that current December-quarter weakness in TV revenues appears to be factored into expectations, the soft run-rate means there could be some downside risk to average analyst forecasts. Recent underperformance of the stock suggests that the market is already taking this into account, he adds. E&P has a last-published neutral rating and A$1.50 target price on the stock. Shares are down 1.4% at A$1.08. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
November 06, 2024 18:52 ET (23:52 GMT)
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