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TF1: UBS downgrades buy rating.

(CercleFinance.com) - This morning UBS abandoned its buy rating on the TF1, with the stock up nearly 50% in one year.

With their new "neutral" rating, analysts have raised their corresponding target price from 12.5 euros to 13 euros.

Analysts said that there are no surprises in TF1's quarterly accounts.

However, the TF1 share has outperformed both the CAC 40 index by 20% since the beginning of the year, and its European peers by 46%, UBS says. In addition, TF1's 2017 P/E is currently 18.4x, against 13x for its sector in Europe. As a result, the stock's remaining upside potential is now considered as limited.

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