City view – Clinton Cards

Altium Securities has drastically reduced its price target on Clinton Cards as a result of its view that trading at the card seller could get even tougher in the run up to Christmas.

The broker has cut its target price from 15p to 6p because not only has recent news flow suggested trading is getting even harder but there is also the potential that Woolworths could undertake a very damaging seasonal stock clearance. Altium has also eased back its forecasts on Clinton Cards. The shares currently trade at 11.75p.

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