Reed Elsevier has been tipped by several brokers as “a safe bet” for investors in 2008, despite the predicted credit crunch.
Both ABN Amro and UBS made Reed Elsevier shares a buy, with the latter claiming that investors might enjoy an added bonus if the group sells the magazine and online assets of its B2B division.
UBS said that Reed was not cheap compared with other media companies but looked good value compared to “other defensive positions”, reports market commentator Mickey Clark, writing in Tuesday’s [8 January] Evening Standard.
Reed Elsevier is expected to announce plans for cost savings of £100 million a year along with full-year results next month.
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