Mediaset: shares down after Berenberg cuts target

(CercleFinance.com) - Shares in Italian TV company Mediaset were down slightly on Thursday after Berenberg analysts cut their target price for the share from 3.
80 euros to 3.50 euros.

The cut actually came with some positive comments from the German broker, which maintains its "buy" rating on the share.

"Mediaset may seem to be just another (structurally pressured) European broadcaster, but there is more than meets the eye in this stock," it wrote in a note.

The shares are currently down 0.5% at 2.7 euros, compared to a 0.1% drop in the FTSE MIB index, giving the group a market value of around 3.25 billion euros. The stock has fallen by over 9% over the past 12 months.

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