Until recently analyst Paul Richards was at Numis and was the City's Now 1 rated media analyst. Now he is at Dowgate and has just published a detailed note on Reach4Entertainment (R4E) after its placing and acquisition today. He reckons the shares should almost double from 1.29p to 2.4p. I own the shares and think his forecasts are light and thus so is the target price. Judge for yourself, the note is in full below.
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