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On fundamentals, ITV is expensive, even at these superficially bombed-out levels. The shares trade at 14 times earnings, a premium to European peers, but most quoted European broadcasters cannot be bought, because they are tied up with a strategic investor; ITV is the exception.

A bid may not be on the agenda yet, but it will come. ITV shares look attractive for the patient investor who believes that the economy will not collapse. Buy says the Times.

Speculation that media investor Haim Saban may buy some of BSkyB's 17.9% stake should underpin the ITV share price for the foreseeable future says the Telegraph. Hold on.

Gold miner Peter Hambro trades on a forward earnings multiple of around 18 times - not expensive compared with its rivals. With the dividend now in place, the shares look better even than when the Telegraph last tipped them at £11.76 last year. Buy says the paper.

N Brown has fallen 11% amid growing fears about bad debts in the home shopping market following the profit warning from Findel, a rival. Brown shares are trading on a p/e multiple of around 11 times and the recent fall seems overdone. A rally could be some time away given the gloomy economic climate but it is worth holding on says the Times.

Creston, the market research and PR group, suggests that things aren't that bad despite concern over firm's marketing budgets. At around 3.8 times 2008 earnings, compared with seven times for rivals, the shares look good value and, provided the economy doesn't get too much worse, represents a buying opportunity says the Telegraph.

Asset manager BlueBay is attracting more and more business, despite the credit crunch. Assets under management grew from $16.4bn to $18.7bn in the three months to 31 March. But like every investor it is to a greater or lesser extent dependent on the health of the financial markets. Unless buyers are optimistic of a quick economic recovery or they must be exposed to asset managers, it is difficult to find a case for buying BlueBay. Sell says the Independent.

Networkers International, which trades as NetworkersMSB after an acquisition, is an AIM-listed recruitment company, showed revenues up by more than 300% to £178m last year. The company specialises in IT and telecommunications and Networkers reckons it is in a market that is set to grow. Hold for now says the Independent.

Shares in Sport Media, which publishes the daily and Sunday Sport newspapers, fell 27.4% yesterday. With advertising budgets being cut, it is difficult to see where the short-term recovery comes from. The group says that it is more concerned with getting the paper right than the share price; investors should see this as a warning. Sell says the Independent.

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