ProSiebenSat.1: Liberum upgrades from 'sell' to 'hold'
(CercleFinance.com) - Liberum upgraded its rating on the ProSiebenSat.
1 share from "sell" to "hold" on Thursday, keeping a target price of 14 euros, after the German broadcaster reported quarterly earnings that beat expectations.
"While we are still cautious on the company, because of both the wider German TV advertising environment and the fact the company faces a long process of reorganising the group and cleaning up the assets, the shares are now at our target price and we see little reason to take that target down, especially as our adjusted EBITDA is at the low end of consensus," the British broker said in a note.
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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.
1 share from "sell" to "hold" on Thursday, keeping a target price of 14 euros, after the German broadcaster reported quarterly earnings that beat expectations.
"While we are still cautious on the company, because of both the wider German TV advertising environment and the fact the company faces a long process of reorganising the group and cleaning up the assets, the shares are now at our target price and we see little reason to take that target down, especially as our adjusted EBITDA is at the low end of consensus," the British broker said in a note.
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.