Vivendi: Credit Suisse raises target price
(CercleFinance.com) - This morning Credit Suisse analysts have confirmed their buy ("outperform") rating on Vivendi shares, a few days after the group unveiled its interim results.
They have increased their corresponding target price from 27.2 euros to 30.1 euros, which suggests upside potential of 20%.
Analysts first say that they have increased their target price for the share due to the upward revision of UMG's expected organic growth in 2019 (from 8% to 13%), as well as a better improvement (+160 basis points, against +70 points previously) of the group's EBITA margin. Another item behind their increase is a reduced tax rate (down from 28% to 23%).
Remember that Vivendi wants to sell up to 50% of the capital of UMG, its music streaming subsidiary.
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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.
They have increased their corresponding target price from 27.2 euros to 30.1 euros, which suggests upside potential of 20%.
Analysts first say that they have increased their target price for the share due to the upward revision of UMG's expected organic growth in 2019 (from 8% to 13%), as well as a better improvement (+160 basis points, against +70 points previously) of the group's EBITA margin. Another item behind their increase is a reduced tax rate (down from 28% to 23%).
Remember that Vivendi wants to sell up to 50% of the capital of UMG, its music streaming subsidiary.
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.