Brokers cite Independent as cheap investment

Another stock attracting the attentions of the brokers is Independent Newspapers. Goodbody has just joined Davy in highlighting its relatively cheap share price for investors recommending it as a stock to hold onto for the longer term. Goodbody says it now gives investors the chance to spread funds over a number of economies which should yield strong growth in the long term. While the group is not represented in the largest advertising markets in the world, it is well positioned to reap strong economic growth in a number of regions, according to Goodbody. Against this background it says it is optimistic about the outlook for Independent Newspapers and recommends that investors buy the shares for the long term. In the last five years, the share price has risen by 367 per cent in absolute value, outperforming the ISEQ index by 41 per cent. And the brokers believe that the new, more global Independent group can continue to outperform in the coming years.

Davy also recommends the shares "strongly".