TF1: Oddo provides forecasts for 2020
(CercleFinance.com) - Oddo still expects slight growth in advertising revenues in Q1 after the group held a meeting for analysts.
They say that this should back an increase in profitability in a context of falling costs at a constant consolidation scope (in particular lower sector taxes).
New targeted acquisitions should accelerate growth, with a potential for synergies with existing assets.
The broker maintains its Buy rating on the share, also sticking to its target price of 12 euros.
Analysts have increased their forecast for the group's EBITA margin for TF1's Studios & Entertainment division to 14%, against 11% previously. They also continue to expect token growth in the advertising growth in 2020, especially in Q1 (+1.5%).
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