ProSiebenSat.1: Commerzbank confirms 'buy' rating
(CercleFinance.com) - Commerzbank has confirmed its "buy" rating on ProSiebenSat.
1, with a new target price of 37 euros, after the German TV broadcaster released "stellar" fourth-quarter results yesterday.
The bank cites a solid TV performance expected in Q1 thanks to the impact of Easter, along with the share's attractive valuation.
Commerzbank also highlights the "good deal" struck with General Atlantic, with the sale of 25% of the group's e-commerce portfolio at 15x 2018 EBITDA, while, in comparison, the market previously valued this portfolio at 11-12x EBITDA.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
1, with a new target price of 37 euros, after the German TV broadcaster released "stellar" fourth-quarter results yesterday.
The bank cites a solid TV performance expected in Q1 thanks to the impact of Easter, along with the share's attractive valuation.
Commerzbank also highlights the "good deal" struck with General Atlantic, with the sale of 25% of the group's e-commerce portfolio at 15x 2018 EBITDA, while, in comparison, the market previously valued this portfolio at 11-12x EBITDA.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.