ProSiebenSat.1: UBS on hold, same TP

(CercleFinance.com) - The analyst believes that the group has announced solid preliminary results for Q1 2024.
Following this announcement, UBS confirms its neutral recommendation on the stock, with a target price of E5.8, representing 24% downside potential.

Q1 adjusted EBITDA is 16% above UBS' forecast, thanks to stronger advertising activity and the momentum of Verivox and flaconi.

ProSiebenSat.1 still aims to increase its FY consolidated sales to around E3.95bn, plus or minus E150m (vs. E3.85bn the previous year).

At the same time, the Group continues to expect adjusted EBITDA of E575m (vs. E578m the previous year), plus or minus E50m.


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