(CercleFinance.com) – While maintaining its ‘neutral’ recommendation on TF1, UBS lowers its price target from 7.8 to 7.5 euros, a new target which leaves a potential for growth of 17% for the group’s title of French media.
Pending the results of the first half, the broker displays its forecasts in its research note, including a 7% drop in television advertising revenue. “With a 2023 PE of around eight times, we think TF1 is well valued,” he says.
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