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The Guardian - UK
The Guardian - UK
Business
Kathryn Hopkins

ITV shares boosted by upgrade

Shares in ITV jumped nearly 16% today after Bank of America-Merrill Lynch raised its rating for the broadcaster.

Analysts upgraded ITV to "buy" from "underperform" with a target price of 50p, up from 20p, saying that ITV was the only broadcaster in Europe that was currently pricing in no advertising recovery.

Goldman Sachs yesterday upgraded its rating for ITV to "buy" from "sell" and added the stock to its "conviction buy list", with a target price of 48p, up from 19p.

Its announcement came just after the Guardian reported that a growing pension shortfall at ITN, which produces news programmes for ITV and Channel 4, has prevented shareholders from selling stakes in the news supplier.

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