TF1: Goldman Sachs upgrades to 'buy'

(CercleFinance.com) - As part of a report on the European media sector, Goldman Sachs has pointed out the TF1 share, which it has upgraded from "neutral" to “buy.
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Although cutting its target price for the share from 13.7 euros to 12.3 euros, this still suggests upside potential of over 30%.

Admittedly, "TV ad trends have been softer than expected across Europe so far this year, following a short-lived recovery in 4Q17, reflecting persisting weak demand from large advertisers and a secular shift of ad dollars to digital."

On the stock market, television stocks suffered from these consequences, underperforming the media sector. However, Goldman Sachs singles out TF1, believing that the share's fall (-24% since the beginning of the year) makes it interesting once more and represents "a good entry point".


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