TF1: a winner in the SBF, Goldman Sachs upgrades to buy

(CercleFinance.com) - The TF1 share is one of the leaders in the SBF 120 index in Paris on Tuesday, benefiting from a favourable recommendation from Goldman Sachs analysts, who consider the stock undervalued.


The television group's shares are currently up over 4% while the SBF is up 0.7%. At the same time, the European media index - the STOXX Europe 600 Media - is up just 0.1%.

Goldman Sachs has said that it had upgraded the share to "buy" (from "neutral"), and has raised its corresponding target price to 10.2 euros, up from 7.7 euros.

The US bank's analysts say that TF1 has underperformed its European peers by 16% since November, despite having some of the strongest operating leverage in its sector.

Goldman also mentions the prospect of concentration in the sector in France.


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