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Nine Entertainment Co Holdings Ltd zooms as peers falter

Shares in media entertainment group Nine Entertainment Co Holdings Ltd (ASX: NEC) were on the rise again today, up 1.7% to $2.27 at the time of writing, recovering from a share price slide in the last few days after a successful 12-months of rises.

Nine shares hit a 52-week high on March 19 when they reached $2.39 after trending upwards since the release of strong half-year results in February which saw a net profit jump of 55%.

Credit Suisse downgraded Nine from outperform to neutral this week, increasing FY18 earnings estimates by 2.9% and FY19 estimates by 8.1% as the share continues to outperform its media peers, with Seven West Media Ltd (ASX: SWM) shares on a downward spiral over the last 12-months, from 76c per share at this time last year to 55c per share at the time of writing.

Shares in multi-platform media group Fairfax Media Ltd (ASX: FXJ) have also dropped, from $1.46 at this time last year to just 68c today while former APN News and Media company HT&E Ltd (ASX: HT1) has been circling 52-week low territory this month, with a drop of 33% from its $2.84 share price at this time last year.

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Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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