ITV: Liberum changes to “buy”
(CercleFinance.com) - Liberum upgrades its recommendation on ITV from 'hold' to 'buy', underlining that the British TV group's share is now 25% below its target price, which is maintained at 145 pence.
“We feel the correction has been too drastic especially as ITV's secular position is better than the market thinks” considers the broker in the summary of its research note.
“Short-term, the 1H results should provide some relief, given "Love Island" and signs advertisers are shifting spending into ITV1”, it adds.
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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.
“We feel the correction has been too drastic especially as ITV's secular position is better than the market thinks” considers the broker in the summary of its research note.
“Short-term, the 1H results should provide some relief, given "Love Island" and signs advertisers are shifting spending into ITV1”, it adds.
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.