ProSiebenSat.1 Media SE : Suite à la très forte remontée du cours, un potentiel plus limité (Neutre vs Achat)
>Une valorisation dorénavant raisonnable, pas de prime spéculative - Nous dégradons notre recommandation à Neutre vs Achat au regard d’un potentiel de hausse qui nous semble dorénavant plus limité (+11% sur la base de notre valorisation vs 51% pour TF1 par exemple). Nous avions relevé notre recommandation à l’Achat le 31/03, le titre nous semblait alors le plus attractif du secteur européen. Suite à une progression du cours de 61% depuis cette date, la valorisation no...ProSiebenSat.1 Media is a holding company engaged as a media corporations in Europe, with TV stations in Germany, Austria and Switzerland. Co.'s core business consists of free TV financed by advertising. Co. also owns an international production network along with digital and ventures portfolio. In addition, Co. is engaged as online seller of video content on the internet. Also, Co. is involved in the online games business and operates an e-commerce portfolio. Through its Red Arrow Entertainment Group, Co. produces international TV programs and sells them to TV stations worldwide. Co. has three segments: Broadcasting German-speaking, Digital & Adjacent and Content Production & Global Sales.
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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