Vivendi: UBS has reduced its price target

(CercleFinance.com) - UBS reiterates its Buy recommendation following the announcement of the 1st half results.
The analyst has also lowered its target price to E12.5 (from E15.5).

'We have reduced our target price to E12.5 to reflect the higher investment in Canal+ content, which is hurting cash flow and leading to a lower UMG share price', says UBS.

Net income attributable to equity holders of the parent came in at 159 ME (-8.3%) for adjusted net income of 329 ME (+1.5%), giving unchanged adjusted earnings per share of 0.32 euro.

We look forward to the rest of the year with confidence", said Arnaud de Puyfontaine, Chairman of Vivendi's Management Board.

Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.