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ProSiebenSat.1: shares slip after broker downgrade
(CercleFinance.com) - Shares in German broadcaster ProSiebenSat.
1 fell by up to 1.3% on Monday after UBS said it had downgraded the stock from "buy" to "neutral". "We are negative on Pro7's TV assets, weak cash conversion and leverage," UBS said in a note this morning, seeing 15% downside in the share price. UBS has also lowered its target price for the share to 24 euros, from 26 euros previously. At 11.30 a.m., ProSiebenSat.1 shares were down 1.3% at 28.5 euros, while Germany's main stock index, the DAX 30, was up 0.5%. Copyright (c) 2018 CercleFinance.com. All rights reserved. |
19/04/2024 18:06
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