Trade Me cut to 'sell' from 'buy' at broker Craigs

Tue, 02 Feb 2016

By Tina Morrison Feb. 2 (BusinessDesk) - Trade Me stock was downgraded to 'sell' from 'buy' by brokerage Craigs Investment Partners, saying shares in New Zealand's largest online auction site were "fully priced". Craigs research analyst Stephen Ridgewell reduced his rating in a Jan. 29 report. The stock, which has soared 32 percent since hitting a low in August last year, has declined 4.1 percent since the report was published and recently traded at $4.02. Trade Me, whose annual profit was little changed in 2015 from the year earlier,...

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