Source - SMW
Exane BNP Paribas has cut its investment rating on Pearson (LON:PSON) to 'neutral' from 'outperform' believing another setback is likely to weigh on the share price until the second half of 2017.

The broker added: "After last year's shock profit warning, Pearson has needed to deliver on expectations to rebuild confidence.

However, the US higher education courseware market looks weaker than expected despite signs of an improvement in enrolment over the summer."

Analysts have lowered their target price by 10% to 900 pence per share (from 1,000 pence).

Earnings per share estimates have been reduced by 6% for 2016 and by 5% for 2017.

At 2:43pm: (LON:PSON) Pearson PLC share price was -6.25p at 775.75p