ProSiebenSat.1: UBS confirms its price target

( – The group announced solid preliminary results for the 1st quarter of 2024, estimates the analyst. Following this announcement, UBS confirms its neutral advice on the stock with a price target of E5.8, which represents a potential decline of 24%.

‘Adjusted EBITDA for the 1st quarter was 16% higher than UBSe’s forecast, thanks to stronger advertising activity and the momentum of Verivox and bottlei,’ indicates UBS.

ProSiebenSat.1 still aims to increase its consolidated turnover for the whole year to around 3.95 billion euros, with a gap of plus or minus 150 million euros (compared to 3.85 billion euros euros for the previous financial year).

At the same time, the group continues to expect an adjusted EBITDA of 575 million euros (compared to 578 million euros for the previous financial year) with a difference of plus or minus 50 million euros.

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