(CercleFinance.com) – JCDecaux suffered the biggest drop in the SBF 120 index on Monday following the downgrading of UBS’s recommendation on the world number one outdoor communications company, which the Swiss bank justifies – among other things – by concerns around activity in China.
Around 12:15 p.m., the stock fell by almost 6%, far behind in an SBF index up 0.6%.
In a study devoted to the European media sector, UBS indicates that it has lowered its recommendation on the value to ‘neutral’ following the disappointing economic indicators recently published in China and in Europe.
In view of these prospects, the Swiss establishment explains that it perceives a ‘more balanced’ risk/return profile for JCDecaux, citing increased uncertainty over the timing and extent of the recovery in the company’s results.