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Mediaset: Oddo still a seller - adjusts target price

(CercleFinance.com) - Oddo BHF reiterates its "reduce"rating on the Mediaset share, having nudged up its corresponding target price from 1.
5 euros to 1.6 euros (current price: 1.78 euros, +1.6%), after the Italian media group published Q3 results that are slightly above its expectations.

Mediaset has posted EBIT of 56 million euros, double the 28 million euros expected by the analyst, a difference that is due to very good cost control, with company management saying that Q4 would be positive - at least for the time being.

The broker says that strategic visibility however remains limited in the current market context, considering that Mediaset could wait for a clarification of applicable regulatory conditions.


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