Broker snap: Lower advertising spend to hit ITV, Goldman says
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Shares in ITV fell after Goldman Sachs changed its recommendation on the company to 'sell' from 'neutral', saying the market is being overly optimistic.
While forecasts for other broadcasters are falling, estimates on ITV do not fully factor in the effects of lower advertising spending in 2008.
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Trends in the advertising market are likely to be mentioned at ITV's annual meeting on May 15, Goldman said.
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