Vivendi: Credit Suisse maintains 'outperform' rating

(CercleFinance.com) - Credit Suisse reiterated its "outperform" rating on the Vivendi stock on Tuesday, having shaved 10 cents off its target price from 13.
1 euros to 13 euros.

In a morning report the broker notes that the media and entertainment group's Q1 revenues (2,377 million euros) exceeded its forecast by 5%.

In its opinion, this performance was flattered by the non-consolidation of Prisma Media in Q1 last year.

Credit Suisse points to a publication that was boosted by the continued turnaround of Havas and the resumption of advertising in the New Initiatives and Vivendi Village ticketing businesses.

Regarding its General Meeting, it said that all resolutions were approved, including the resolution to buy back 10% of the group's shares and a public tender offer for up to 50% of the group's shares at a maximum price of 16 euros per share.


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