ProSiebenSat1: Oddo BHF upgrades stock

(CercleFinance.com) - Oddo BHF has upgraded ProSiebenSat1 shares from "neutral" to "outperform", adding a euro to its target price, to E11 (vs.
E10 previously), in the wake of recurring EBITDA forecasts that have been raised by an average of 8% through to 2025.

The broker believes that the German media group's share price now has a much more favourable momentum, citing, for example, stabilisation (June) and an advertising rebound (in H2).

Oddo BHF also points to the potential for cost savings that has not been integrated by the consensus, a possible merger with Sky Deutschland, which it sees as highly value-creating, and a particularly attractive valuation.


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