Vivendi: Credit Suisse raises target price

(CercleFinance.com) - Credit Suisse reaffirms its "outperform" ratsing on the Vivendi share, having raised its corresponding target price from 26.
2 euros to 27.5 euros, after increasing its 2020 EBITA estimates for the group by 14%, followed by an 11% increase for 2021.

"Our prior financial estimates for FY2020 appear overly cautious post H1, especially for UMG and Canal+ EBITA," the broker said.

It also notes that Vivendi's management is now considering floating UMG (currently scheduled for 2023 "at the latest") at an earlier date, given the success of Warner Music's and the dynamic music market.


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