Mediawan : Improving trend – Accept the offer (vs Buy)
>Accept the offer, € 13 target price unchanged - Mediawan yesterday held a conference call following its H1 2020 results. The group provided a few clarifications on its outlook, particularly on a sizeable advertising recovery. We have shaded down our forecasts for 2020 to reflect a more cautious outlook for the originals and rights businesses. We now forecast 2020 EBITDA of € 40m vs € 43m previously. Our target price is unchanged at € 13. We still do not have very cle...Mediawan was incorporated as a Special Purpose Acquisition Company for the purpose of acquiring one or more operating businesses or companies in the traditional and digital media content and entertainment industries in Europe. Through it's subsidiary, Groupe AB, Co. is an independent publisher, producer and distributor of audiovisual content in French-speaking Europe. Its main activities are producing and distributing TV series, TV films, cartoons and documentaries as well as publishing TV channels and related digital services. The group has a portfolio of 19 channels, which are distributed in French-speaking Europe and Africa.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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