The Commission for the Securities Market (CMVM) banned this Monday the short selling of shares of CTT during the session tomorrow, Tuesday, January 31.
The prohibition decreed by the entity led by Gabriela Figueiredo Dias (in the photo) comes to the strong fall recorded by the shares in the session today, when the bonds sank 13,99% in the biggest drop ever, renewing a record low of 5,171 euros.
In a statement, the authority of markets, justify the extent with the “significant decrease” in the price of papers of the company, in the case of more than 10%, and taking into account that “the fluctuation of the price of the shares cannot exclude the occurrence of a phenomenon of speculation with a negative impact.”
The fall of today’s session followed the downward revision by the company mail, on Friday last, the prospects for EBITDA for the year 2016, keeping nevertheless the intention to distribute the dividend already compromised during the year of 2017.
Later, JPMorgan cut in almost a third the price target assigned to the CTT and reduced the recommendation from “overweight” to “underweight,” while the BPI reduced the target price of 7 for 6,80 euros, maintaining the recommendation to “neutral” and CaixaBI considers that there has been a “negative development for the CTT,” not stirring however in the evaluation.