Barclays Capital has downgraded its investment rating on Daily Mail & General Trust to 'underweight' from 'equal weight', stating that its valuation points to clear downside vs the current shares and that it sees the stock as being overvalued.
The bank also commented: "We believe the shares have been helped by hope that the new CEO will announce a dramatic change to the portfolio.
"But we do not expect change of the scale required to excite the market."
Analysts have lowered their price target to 705 pence per share (from 715 pence).
At 1:57pm: (LON:DMGT) Daily Mail and General Trust PLC share price was -30.75p at 766.25p