TF1: Credit Suisse raises its target price.

(CercleFinance.com) - Credit Suisse reiterates its "underperform" rating on TF1, although has raised its target price from 6.
4 euros to 10 euros, after adjusting its forecasts for the media group, which last week unveiled its annual results and new strategy.

Credit Suisse analysts are raising their expectations regarding growth in advertising revenue for TF1, along with their forecasts for the group's margin, in response to the new targets set by management, which is leading the broker to raising its 2017 EPS estimates by 42%.

"However, our concern is that TF1 will be unable to maintain its advertising market share without investment, which would likely put margins under pressure," the analyst warns, pointing out that TF1 is targeting a “double digit” margin in 2019.


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