StockMarketWire.com - Equity research analysts at Cantor Fitzgerald have upgraded their recommendation on SpaceandPeople [LON:SAL], an international destination media specialist company, to 'buy' from 'hold', given the level of upside to their revised target price.

The broker said: "We think end of 2014 trading has gone well at SpaceandPeople and will bring 2014 in at the higher end of management's £800,000-£1m guidance for adjusted pre-tax profit.

"With recent board changes, cost cuts and streamlined operational management, we believe investors can look forward to sustained growth and a progressive dividend policy over coming years."

Target increased to 68 pence a share (from 52 pence), implying 55 per cent upside.

Cantor added that it expects the share price to reach this level as confidence builds.

At 2:20pm: [LON:SAL] SpaceandPeople PLC share price was +16p at 61p



Story provided by StockMarketWire.com