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Broker's note: HMV

Altium Securities has upgraded its recommendation on HMV Group from ‘Sell’ to ‘Hold’ following a decline in the group’s share price.

CITY & CORPORATE

Broker's note: HMV

Altium Securities has upgraded its recommendation on HMV Group from ‘Sell’ to ‘Hold’ following a decline in the group’s share price.

The broker states that the switch has been prompt
ed by HMV shares moving to within 7% of its target price of 110p. This follows their decline from 150p a month ago to a current 119.25p.

Altium also notes that this fall has coincided with stock loan data showing that short interest in HMV has increased from less than 22% of its shares in issue on May 13 to more than 24% on May 19.

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