News

Blockbuster Hits Peak?

7/15/2001 8:00 PM Eastern

Salomon Smith Barney Inc. analyst Margaret Blaydes downgraded video retailer Blockbuster Inc. July 10 to "outperform" from "buy," to keep the stock more in line with its peers in the consumer-electronics industry. In a research report, Blaydes also lowered her 12-month price target on the stock to the low $20s. "After a very good run, the shares are near historical high levels, but clarity on the timing and scale of cash flow from new ventures could provide a catalyst," Blaydes wrote.

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