NRJ Group: down 3% after publishing results.
(CercleFinance.com) - The NRJ stock is down almost 3% after the group unveiled its results.
Oddo has downgraded its rating on the stock to Neutral (vs. Buy), while maintaining its target price of 12 euros.
"We recommend investors take profits after the stock's significant appreciation over the last 3 months, which limits upside relative to its target price," Oddo says.
The media group's underlying operating income increased by 0.7% to 29.1 million euros, below the broker's expectations.
"The group is suffering from its TV division (loss of 28.6 million euros, against a loss of 26.9 million euros), which continues to suffer, while its radio business has seen its margin drop 2.2 point to 16.8% (against a 0.3 point fall expected), due to a rise in structural costs" Oddo says.
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