ProSiebenSat.1: UBS upgrades to 'buy', stock jumps over 4%
(CercleFinance.com) - UBS upgraded ProSiebenSat.
1 shares to "buy" from "neutral" on Monday, and boosted its target to 18.2 euros from 16 euros, saying the German broadcaster has become "too cheap to ignore."
"Structural risks are more than priced in now despite macro headwinds while upside M&A risk exists," the broker wrote in a note.
The ProSiebenSat.1 share is currently up 4.5% at 12.9 euros.
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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 shares to "buy" from "neutral" on Monday, and boosted its target to 18.2 euros from 16 euros, saying the German broadcaster has become "too cheap to ignore."
"Structural risks are more than priced in now despite macro headwinds while upside M&A risk exists," the broker wrote in a note.
The ProSiebenSat.1 share is currently up 4.5% at 12.9 euros.
Copyright (c) 2019 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.