Wednesday January 7th 2009

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The City view - Woolworths

The mounting problems at Woolworths has led Altium Securities to re-iterate its 'Sell' recommendation on the company.

The broker has also set a target price of 0p on the back of the growing prospect that the company is heading for administration. Altium suggests that given the level of debt and pension deficit this would probably leave nothing for shareholders. Woolworths shares currently trade at 1.89p following a further fall of 10% today (November 21).

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