Shares in Daily Mail and General Trust were hit again this morning following a downgrade by Citigroup.
The move follows a warning by the media group last week that revenues would fall in 2018 as the result of “challenging” trading conditions.
That announcement saw a 24% fall in its share price from 702p to 858p.
Price target lowered
After a slight recovery, it fell again this morning by 2.2% to 575p when Citigroup analyst Natasha Brilliant downgraded the bank’s rating to neutral and lowered the price target from 880p to 600p.
“It’s been a tough year for DMGT. We saw two profit warnings in H1 under the new management team,” she said.