(CercleFinance.com) – Oddo BHF raises its recommendation on ProSiebenSat1 from ‘neutral’ to ‘outperform’ with a new price target of 11 euros (compared to 10 euros previously), in the wake of recurring EBITDA forecasts raised by 8% on average by 2025.
The research department believes that the title of the German media group “now presents a much more favorable momentum”, citing for example a stabilization (June) and an advertising rebound (second half).
Oddo BHF also mentions a potential for cost savings not integrated by the consensus, a possible merger with Sky Deutschland, according to him “very value-creating”, as well as a “particularly attractive” valuation.
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