TF1: offers good entry point, according to Bryan Garnier.
(CercleFinance.com) - Bryan, Garnier & Co.
this morning reviewed the TF1 stock, after the television group's share has been tested in recent weeks by profit warnings made by WPP and ProSiebenSat. Analysts say that this is an "exaggerated" sanction, considering that the share's current price provides a good entry point for investors. The broker has therefore confirmed its buy rating on the stock, as well as its fair value, which it maintains at 13.2 euros.
Bryan Garnier points out that prior to WPP's "warning," made on 23 August, the TF1 share had risen by 32.2% since the beginning of the year, having largely outperformed the CAC 40 index (+5.5%). Since then, the stock has fallen by 12%. "We consider these market reactions are quite exaggerated,” its research report states, “In particular, we believe TF1 Group, which is now trading at EUR11, offers a good entry point” the broker says.
Bryan Garnier points out that both WPP and ProSiebenSat have, despite their warnings, reaffirmed their confidence in the French advertising market trends for the second half, which should show a slight increase. Analysts also note that the British and German groups do not operate in the same segments as TF1.
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.
this morning reviewed the TF1 stock, after the television group's share has been tested in recent weeks by profit warnings made by WPP and ProSiebenSat. Analysts say that this is an "exaggerated" sanction, considering that the share's current price provides a good entry point for investors. The broker has therefore confirmed its buy rating on the stock, as well as its fair value, which it maintains at 13.2 euros.
Bryan Garnier points out that prior to WPP's "warning," made on 23 August, the TF1 share had risen by 32.2% since the beginning of the year, having largely outperformed the CAC 40 index (+5.5%). Since then, the stock has fallen by 12%. "We consider these market reactions are quite exaggerated,” its research report states, “In particular, we believe TF1 Group, which is now trading at EUR11, offers a good entry point” the broker says.
Bryan Garnier points out that both WPP and ProSiebenSat have, despite their warnings, reaffirmed their confidence in the French advertising market trends for the second half, which should show a slight increase. Analysts also note that the British and German groups do not operate in the same segments as TF1.
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.