Chrysalis Group "buy," target price reduced -update

08/07/03 - Canaccord Capital

NEW YORK, August 7 (New Ratings) — Analyst Alan Howard of Canaccord Capital maintains his “buy” rating on the Chrysalis Group (CHS.LN). The target price has been reduced from 245p to 230p.

In a research note published this morning, the analyst mentions that Chrysalis has announced its intention to sell its TV production business. The company has, however, experienced a robust audience growth in its radio operations in the current fiscal year, adds the analyst.