Markets & Finance

JP Morgan Downgrades Getty Images


JP Morgan downgrades visual content network Getty Images (GYI) to neutral from overweight.

Analyst Paul Coster says the stock trades at about 35.1 times his $2.24 2005 earnings per share estimate, a 50% premium to mean of his coverage universe.

However, the stock trades at a 37% discount to mean for its near peers in the Internet space, which trade at 55.8 times 2005 earnings per share estimates. He notes the stock has outperformed the S&P 500 by over 19% points since Dec. 2004.

Coster says in context of this appreciation and given incremental concerns regarding the dollar/euro exchange rate, acquisition related risks, and emergence of JupiterMedia as a credible competitor, he downgrades.


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