RTL Group: BarCap maintains 'equal weight' after results
(CercleFinance.com) - Barclays Capital maintains an "equal weight" rating on RTL Group's shares with an unchanged target price of 72 euros after the European broadcaster posted 2017 results "slightly below expectations" and unveiled a "conservative" outlook for 2018.
"The lack of growth in 2018 comes from investments in digital, a sensible strategy," the broker says, leading to a 1-2% cut in its estimates.
While acknowledging that RTL has its own "attractions" (dividend yield, market share gain in Germany,...), BarCap does not think that this will translate into much growth for another year.
"2018 should therefore be the sixth year of little growth," the broker says in a report sent to clients.
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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.
"The lack of growth in 2018 comes from investments in digital, a sensible strategy," the broker says, leading to a 1-2% cut in its estimates.
While acknowledging that RTL has its own "attractions" (dividend yield, market share gain in Germany,...), BarCap does not think that this will translate into much growth for another year.
"2018 should therefore be the sixth year of little growth," the broker says in a report sent to clients.
Copyright (c) 2018 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.