Mediaset España: Credit Suisse downgrades outperform rating.
(CercleFinance.com) - Credit Suisse has downgraded its "outperform" rating on the Mediaset España stock to "neutral," and has cut its corresponding target price from 12.
9 euros to 9.7 euros after the Swiss broker cut its EPS estimates by 7% for 2017, followed by 16% for 2018.
"Latest feedback from Spanish media buyers is significantly more bearish than in our previous survey in Q2," warns the analyst who monitors the Spanish television group.
While it continues to think that Mediaset España will benefit from the long-term recovery in the Spanish television advertising market, its analysts do not see enough positive catalysts in the near term to justify an "outperform" rating.
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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.
9 euros to 9.7 euros after the Swiss broker cut its EPS estimates by 7% for 2017, followed by 16% for 2018.
"Latest feedback from Spanish media buyers is significantly more bearish than in our previous survey in Q2," warns the analyst who monitors the Spanish television group.
While it continues to think that Mediaset España will benefit from the long-term recovery in the Spanish television advertising market, its analysts do not see enough positive catalysts in the near term to justify an "outperform" rating.
Copyright (c) 2017 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.