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Axel Springer: BarCap downgrades to 'equal weight'

(CercleFinance.com) - Barclays Capital downgraded its rating on German publisher Axel Springer from "overweight" to "equal weight," saying that it now sees limited upside potential in the share price.

In a research report, BarCap points out that Axel Springer's share price has continued to rise since its positive Q3 report, having now outperformed the STOXX Europe 600 index by 32% year-to-date.

However, Barclays thinks that further material share price upside would be "hard to achieve," unless best-case operational scenarios unfold, with the broker maintaining its target price unchanged at 67 euros.

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