ProSiebenSat: best pick in sector according to Oddo
(CercleFinance.com) - Oddo has presented an insight of its expectations for the TV sector in Q3.
The advertising trend should be positive throughout Europe, with outperformance in Germany (+16%e for Pro7Sat). The trend in France, Spain and Italy should be slightly positive (between 2% and 3%).
The momentum remains very good and most advertisers are currently increasing their expenditure. However, the main point of uncertainty is the likely slowdown in the automotive sector (between 10% and 12% of European markets).
Oddo reiterates its preference for Pro7Sat (Outperform rating and target price of 22 euros), in view of a very good Q3 and a consensus that analysts believe is still too low for 2021.
The share is currently flat in Frankfurt.
Copyright (c) 2021 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.
The advertising trend should be positive throughout Europe, with outperformance in Germany (+16%e for Pro7Sat). The trend in France, Spain and Italy should be slightly positive (between 2% and 3%).
The momentum remains very good and most advertisers are currently increasing their expenditure. However, the main point of uncertainty is the likely slowdown in the automotive sector (between 10% and 12% of European markets).
Oddo reiterates its preference for Pro7Sat (Outperform rating and target price of 22 euros), in view of a very good Q3 and a consensus that analysts believe is still too low for 2021.
The share is currently flat in Frankfurt.
Copyright (c) 2021 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.