Analysts at Altium Securities have downgraded their assesment of the Individual Restaurant Company and said the company would make an ideal acquisition. Following on from this morning's half-year interim results Altium rates IRC stock as a hold - down from a buy recommendation previously. Altium also reduced its target price to 60p. In a note the brokerage advisors said: "Trading conditions have toughened in the first 10 weeks of H2 and pressure on margins continues. "As always Xmas trading will be exceptionally important; we believe Xmas itself will be okay but November could be weak and we are also cautious on spending for H109 "As a result we have reduced estimates as outlined above. Consequently we have reduced our target price to 60p and changed our core recommendation to HOLD given the proximity to Friday’s close. However, we continue to believe that IRC would make an ideal acquisition or take-private candidate."