cti target 30cents..read

0909 [Dow Jones] STOCK CALL: Citi downgrades Commander Communications (CDR.AU) to Sell from Hold, says market unlikely to give benefit of doubt to company any longer. Notes debt levels have risen by A$83 million since June 30 due to a blow out in working capital in what would normally be a quiet period. Also says there is limited information on refinancing and limited earnings visibility. Says while company has put itself up for sale by opening a data room, group's A$300 million debt could deter potential buyers. Cuts target to 30 cents from A$1.10, CDR shares to resume trade today after long halt, last at 59.5 cents. (LMF)