ProSiebenSat.1: shares rise on broker upgrade
(CercleFinance.com) - Shares in ProSiebenSat.
1 Media were up 2.5% in early trading on Tuesday, one of the top gainers on Frankfurt's MDAX midcap index, after UBS upgraded the German TV broadcaster from "sell" to "neutral".
The broker cites "valuation" grounds, which offset the company's ongoing risks and poor fundamentals.
At its current valuation, UBS believes that risks around a strategy/dividend reset, poor fundamentals and weak trading are priced in, its analysts wrote in a note.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
1 Media were up 2.5% in early trading on Tuesday, one of the top gainers on Frankfurt's MDAX midcap index, after UBS upgraded the German TV broadcaster from "sell" to "neutral".
The broker cites "valuation" grounds, which offset the company's ongoing risks and poor fundamentals.
At its current valuation, UBS believes that risks around a strategy/dividend reset, poor fundamentals and weak trading are priced in, its analysts wrote in a note.
Copyright (c) 2018 CercleFinance.com. All rights reserved.