The experts at Banco Sabadell have improved their advice on Mediaset to "buy" from "sell" after results -presented this Wednesday at the close- that have exceeded what was expected by the consensus and after the recent bad behavior of the company on the stock market.
"We changed the recommendation to 'buy' from 'sell' as the potential begins to be attractive: + 41.2% to our target price of 3.80 euros per share. The main uncertainties continue to be the weakness of the advertising market (we expect a fall of -19.9% in 2020 compared to -27.9% in the first half of 2020) and the conditions of the future merger with Mediaset Italia ", these analysts explain.
This Wednesday, Mediaset reported to the market after the close of the trading session. It closed the first half of the year with a 45% drop in its net result, to 70 million euros. According to the information it has sent to the National Securities Market Commission (CNMV), the company considers it to be an "excellent result taking into account the extraordinary economic difficulty caused by the Covid-19 crisis."
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