Vivendi: results warmly welcomed; share up 4%
(CercleFinance.com) - The Vivendi stock jumped 4% yesterday after the group published its interim results.
Invest Securities hailed the group's accounts, upgrading its "neutral" rating to "buy". Referring to "positive movements," analysts raised their target price for the share from 22.5 euros to 25.3 euros.
According to a research note, H1 2018 results are better than expected, especially in terms of EBITA, as the group's three main divisions (UMG, Canal+ and Havas) are doing better than forecast.
In addition, Invest Securities also underlines that Vivendi has made two important announcements: its desire to sell up to 50% of UMG to strategic partners, which will realise the value of this asset and the accretive acquisition of Editis, which is bang in line the group's strategy of creating an integrated content and media group.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Invest Securities hailed the group's accounts, upgrading its "neutral" rating to "buy". Referring to "positive movements," analysts raised their target price for the share from 22.5 euros to 25.3 euros.
According to a research note, H1 2018 results are better than expected, especially in terms of EBITA, as the group's three main divisions (UMG, Canal+ and Havas) are doing better than forecast.
In addition, Invest Securities also underlines that Vivendi has made two important announcements: its desire to sell up to 50% of UMG to strategic partners, which will realise the value of this asset and the accretive acquisition of Editis, which is bang in line the group's strategy of creating an integrated content and media group.
Copyright (c) 2018 CercleFinance.com. All rights reserved.