TF1: Oddo BHF upgrades stock
(CercleFinance.com) - Oddo BHF has upgraded its rating on the TF1 share from "neutral" to "buy," about six weeks after previously downgrading it.
The broker has also raised its target price from six to 6.5 euros, deeming the consensus expectations as excessively low for 2020, when the advertising market is expected to improve.
The broker states that since its downgrade the share price has fallen by 14%, leading to a negative valuation of the television division, and that over the first quarter the media group has demonstrated its ability to adjust its costs significantly.
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