BUZZ-MDC Partners Inc: Brokerages downgrade on accounting probe news

Tue Apr 28, 2015 12:55pm EDT
 
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** U.S.-listed shares of marketing, communication services company down 33 pct at $18.73, among top percentage losers on Nasdaq

** Toronto-listed shares down 33 pct at C$22.66

** At least 3 brokerages downgrade stock; 2 cut price targets

** MDC said Monday it received subpoena from SEC; agency investigating CEO's reimbursements, company's goodwill, other accounting practices and information relating to trading by third parties

** Of 10 analysts covering U.S.-listed stock, 6 rate it "buy" or higher, 4 have "hold"; median price target $29.25

** U.S.-listed stock has risen more than 23 pct this year