M6: Liberum raises target price.

(CercleFinance.com) - Liberum is maintaining its hold rating on the M6 share, while raising its target price from 20 euros to 20.
5 euros, pending publication of the media group's Q3 results on 7 November.

"We raise our Net Advertising estimate for the free-to-air channels for 2017, as we expect the H2 advertising market to perform better than initially expected," said the broker.

As for TF1, the broker said "we raise our terminal growth rate for M6 to reflect the potentially softer regulation, a proper advertising recovery in France, and the potential monetisation of new revenue streams."


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