Caution urged on Baltimore

Davy Stockbrokers is positive about Baltimore Technologies but is advising clients to hold off on buying it just yet.

Following its recent results, Davy has revised its forecasts for the company downwards. It maintains its long-term price forecast of £8 sterling and a buy rating for the stock.

In the next three to six months, with the negative sentiment towards the information technology sector and the end of the lock-up period for the Content Technology shareholders, Davy suggests there may be areas in which it is safer to invest.