Report
Jerôme Bodin

TF1 : Q3 accident-free for now, a very low valuation

>The valuation looks abnormally low at the moment - TF1 yesterday held its conference call after a better-than-expected set of H1 results. The group indicated that the advertising trend was accident-free in Q3. Following the disposal of several digital assets, it is now looking to focus its attention on developments around Newen. We maintain our Outperform rating on the stock. Our target price is unchanged at € 12 a share. This takes account of a negative valuation o...
Underlying
Television Francaise 1 SA

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Jerôme Bodin

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