UPDATE: Despite Phorm’s troubles, City analysts are still giving the company positive ratings. James Wheatcroft of Evolution Securities in a note today repeats an earlier “buy” rating based on its market trial in South Korea, and says Carphone’s decision to end its partnership agreement is “largely immaterial” as TalkTalk was merely a “follower” of BT (NYSE: BT) and had not conducted any of its own trials. BT’s decision to rule out deployment in the near future is going to cost Phorm dearly: Evolution reckons it could have made £2.3 million this year if BT had deployed Webwise. But nevertheless, it recommends Phorm as a good investment and predicts it will make £13.9 million in the UK in 2010 — £21.6 million including Korea — and a massive £82.5 million in 2011.
Earlier: First BT went cold on Phorm, now Carphone Warehouse’s TalkTalk has “terminated its agreement”, says the behavioural ad company. Phorm is still in full-on face-saving mode, though, professing to be “very confident”: “The directors note that this relationship had not extended to any form of trial, in contrast to BT and some international ISPs.”
Phorm says it

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