TF1: Oddo BHF remains positive ahead of quarterly update

(CercleFinance.com) - Oddo BHF has reiterated its 'outperform' rating and 13-euro price target on TF1 shares, outlining its expectations for the first quarter of 2024, which it expects to be dynamic from an advertising standpoint.


While it anticipates a decline in EBITA over this period due to higher costs, the research firm believes that the next few quarters should be much more favorable, driven in particular by TF1+.

We still consider the share price attractive, given the downturn in sales momentum and the very low valuation, the analyst adds, explaining the latter by fears of a structural decline in earnings, a scenario to which he does not subscribe.


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