TF1: UBS cuts target price
(CercleFinance.com) - UBS maintains its "buy" rating on the TF1 stock, although has cut its target price from 13.
2 euros to 9 euros (this still suggests upside potential of 29%), for the French television group.
The broker has reduced its EPS forecasts by 5% for 2018 and by 15%-16% for 2019-20. "With Broadcast assets trading on an implied 6x PE we view downgrades and structural pressures are more than priced in," it says, however.
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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.
2 euros to 9 euros (this still suggests upside potential of 29%), for the French television group.
The broker has reduced its EPS forecasts by 5% for 2018 and by 15%-16% for 2019-20. "With Broadcast assets trading on an implied 6x PE we view downgrades and structural pressures are more than priced in," it says, however.
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.