Games Workshop downgraded to "sell"

01/06/06 - Panmure Gordon & Co

LONDON, January 6 (newratings.com) - Analyst Charles Hall of Panmure Gordon & Co downgrades Games Workshop Group Plc (GAW-GBX) from "hold" to "sell." The target price is set to 315p.

In a research note published this morning, the analyst mentions that the company has reported its 1H06 results in-line with the expectations. Games Workshop's profits declined to £0.1 million during 1H06, as compared to £7.7 million in the year-ago period, on account of weak sales in the US, the analyst says. The company has announced that it would not be able to achieve the consensus expectations for FY2006. The company, however, intends to maintain its dividend yield.