Report
Jerôme Bodin

TF1 : Une nouvelle dynamique grâce à la nouvelle offre TF1+

Nous relevons notre recommandation à Surperformance sur TF1 avec un nouvel objectif de cours de 13 € (contre 10 €). Nos estimations de BPA 2023/25e sont relevées de 10% en moyenne sous l’effet d’un relèvement de nos attentes publicitaires (grâce à la montée en puissance de la nouvelle offre digital TF1+) et d’une revue de notre modèle de coûts. Le bilan est très sain avec une trésorerie nette de 510 M€ fin 2024, soit ~30% de la capitalisation boursière. - >Une dynamique pu...
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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Matthias Desmarais
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