- Canaccord Genuity has downgraded its investment rating on Next Fifteen Communications [LON:NFC] to 'hold' from 'buy' on valuation grounds, despite the company reporting earnings ahead of estimates.

The broker pointed out that the shares have risen by over 50 per cent on a one year view (and by more than 16 per cent in 2015 alone) and now offer a rather more modest 6 per cent potential upside to its new 189 pence target (previously 176 pence).

Meanwhile, Investec reaffirmed its 'buy' recommendation and increased its target to 220 pence (from 182 pence), stating that the shares look cheap given more aggressive management, strong US and non US rationalisation upside.

At 2:48pm: [LON:NFC] Next Fifteen Communications Group PLC share price was +3p at 176p

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