M6 : 2021 preview: an excessively low consensus
>A very attractive entry point for the next 12 months - We are publishing a preview on M6 which is due to publish its full-year results on 15 February (analysts meeting after market close). We expect EBITA to come in well above the consensus (€ 361m vs € 323 for the consensus). Moreover, our forecast is well above certain estimates, recently raised, around € 315. We are confident on our forecast in a context of advertising growth in Q4. Granted, the group should incre...Co. is engaged in the media industry, primarily television edition & broadcasting. Co.'s operations can be divided into three segments. In the Free-to-Air segment, Co. operates a Free-to-Air terrestrial TV network, financed exclusively by advertising. In the Digital TV segment, Co. broadcasts many digital channels. In the Diversification & audiovisual rights segment, Co. purchases audiovisual rights. Co. is also engaged in distance-selling business, allows viewers to play an active role in the unfolding of programs proposed to them, develops mobile phone content; publishes a family of websites, organizes events & shows, & manages football Club des Girondins de Bordeaux.
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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