CanWest Global Communications "buy," target price reduced

03/28/08 - GMP Securities

NEW YORK, March 28 (newratings.com) - Analyst Jason Jacobson of GMP Securities maintains his "buy" rating on CanWest Global Communications Corp (CWG). The target price has been reduced from $9.25 to $8.25.

In a research note published this morning, the analyst mentions that TEN Network Holdings has posted disappointing F2Q08 results. Although the company’s TV revenue growth was robust in the quarter, growth is likely to marginally slow down in F2H08, the analyst says. The downward revision in the target price reflects the decline in TEN Network Holdings’ share price, GMP Securities adds.