RATING/CHANGE
June 12, 2009Transcontinental Inc. (TCL.A-T) C$9.16 …. 34
HOLD ↓ (Prior: ACTION LIST BUY);Target: C$10.00 (Unchanged)
Downgrading on Accelerating Top Line Erosion
This is broker-speak for sell. Sell ratings are issued when the stock is less than zero. TD Waterhouse comments that profit “erosion” is getting worse not better.
The stock has seen serious sell-off over the past year.
Chart by TD Waterhouse
Transcontinental provides printing, publishing and marketing services with 80% of its business in Canada and the remainder in the United States and Mexico. Transcontinental is the one of the largest printers in Canada. It publishes magazines and newspapers in French and English, including the Charlottetown Guardian and the Summerside Journal Pioneer. (abridged from their website)
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