JCDecaux: JPMorgan downgrades stock
(CercleFinance.com) - On Friday J.
P. Morgan downgraded its rating on JCDecaux shares from "neutral" to "underweight", having reduced its target price for them from 22.7 euros to 16.6 euros.
While analysts believe in the opportunity represented by the stock from a LT structural viewpoint, they consider that the current economic slowdown will prove to be detrimental to advertising budgets, which leads them to be more cautious.
J.P. Morgan explains that in times of economic uncertainty, advertisers tend to quickly reduce their advertising budgets, which ultimately puts pressure on advertising revenues.
The share is currently down about 1.5% in a market that is up about 0.7%.
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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.
P. Morgan downgraded its rating on JCDecaux shares from "neutral" to "underweight", having reduced its target price for them from 22.7 euros to 16.6 euros.
While analysts believe in the opportunity represented by the stock from a LT structural viewpoint, they consider that the current economic slowdown will prove to be detrimental to advertising budgets, which leads them to be more cautious.
J.P. Morgan explains that in times of economic uncertainty, advertisers tend to quickly reduce their advertising budgets, which ultimately puts pressure on advertising revenues.
The share is currently down about 1.5% in a market that is up about 0.7%.
Copyright (c) 2022 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.