Getty Images "neutral," target price reduced

07/26/06 - Robert W. Baird

NEW YORK, July 26 (newratings.com) - Analyst Steven M Ashley of Robert W Baird maintains his "neutral" rating on Getty Images Inc (GYI), while reducing his estimates for the company. The target price has been reduced from $85 to $60.

In a research note published this morning, the analyst mentions that the company has reported its 2Q06 revenues marginally short of the consensus. Getty Images has reduced its revenue and EPS guidance for 2006 from $830-$850 million to $820-$830 million and from $2.70-$2.80 to $2.63-$2.70, respectively. The company’s RF business continues to remain challenging, Robert W Baird adds. The EPS estimate for 2006 has been reduced from $2.75 to $2.66.