Axel Springer: shares gain on broker upgrade.
(CercleFinance.com) - Shares in Axel Springer rise over 4 percent to 54.
1 euros, making it the top gainer on MDAX index of German mid-cap shares, after Barclays hikes its recommendation on the stock to "overweight" from "equal weight".
The broker -- which has a price target of 58.75 euros -- expects the publisher's good momentum to continue.
While the shares have underperformed recently on German advertising market worries, potential catalysts for the shares include good delivery for the rest of 2017, with potential for modest upward consensus forecast revisions, and a potential sale of businesses, BarCap says.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
1 euros, making it the top gainer on MDAX index of German mid-cap shares, after Barclays hikes its recommendation on the stock to "overweight" from "equal weight".
The broker -- which has a price target of 58.75 euros -- expects the publisher's good momentum to continue.
While the shares have underperformed recently on German advertising market worries, potential catalysts for the shares include good delivery for the rest of 2017, with potential for modest upward consensus forecast revisions, and a potential sale of businesses, BarCap says.
Copyright (c) 2017 CercleFinance.com. All rights reserved.