TF1 : Le consensus nous semble toujours trop prudent - Achat réitéré
>Opinion Achat réitérée avec un objectif de cours de 7 € - Nous faisons un point sur TF1 suite à notre changement de recommandation à l’Achat du 18/05. Nous la réitérons avec un objectif de cours 7 € (vs 6.5 €). Nous restons convaincus que le consensus est beaucoup trop bas pour 2020 (EBIT de 84 M€ vs 141 M€ pour nos attentes). La tendance publicitaire reste négative mais probablement en nette amélioration en mai et juin et nous restons confiants sur une normalisation...Television Francaise 1 is a French general-interest television channel. Co. is an integrated communications group. Its activities cover the whole of the audiovisual industry: upstream in production, acquisition and sale of audiovisual rights and also in distribution of feature films to cinemas; downstream in sale of advertising space, and publishing and distribution of DVDs and music CDs. Co. is also engaged in home-shopping TV with Teleshopping, and pay-TV market. In addition, Co. produces multimedia content. Its activities can be divided into four sectors: Broadcasting France, Broadcasting International, Audiovisual Rights and Other Activities.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.