You are here: City and Corporate / Brokers note - Game Group
Thursday July 2nd 2009
Brokers note - Game Group
Archived article dated Thursday July 2nd 2009
Altium Securities has re-iterated its 'Buy' recommendation on Game Group following its trading update revealed a performance in-line with expectations.
The broker suggests that these figures will lead to very few changes in its own and consensus forecasts. It also believes Game should continue to trade at a discount to the sector on the basis of its exposure to stores and the threat posed by downloading. It is currently on an ex-cash PE of only 5x. However, since Altium does not believe downloading will have a major impact on the market for another five years it retains its 'Buy' recommendation on Game and price target of 193p, which compares with an underlying share price of 151.25p following the 8% decline this morning (July 2).
Tagged as: brokers note | game | retail |
Share this article:
Should your colleagues be reading the Retail Bulletin?
Let them know about us.
