TF1 : Un début d’année positif sur la publicité, forte croissance à venir du FCF d’ici à 2020
>Un potentiel d’appréciation du cours important au regard des perspectives 2019/2020 - TF1 a tenu vendredi sa réunion d’analystes suite à ses résultats 2018. Le management a indiqué que la tendance publicitaire était « bonne » en janvier. Nous attendons désormais 1.5%e (vs 1.9%) en 2019. Alors que le groupe : 1/ a abaissé sa guidance de coûts pour 2019/20 (990 M€ vs 992 M€ dans nos attentes initiales et ~1 000 M€ pour le consensus) ; 2/ et devrait profiter pleinement...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.
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