Oddo remains 'Neutral' on TF1 shares following the publication of the group's annual results, and is keeping its price target at 10E.

'The results are slightly below our expectations, with EBIT of 316 ME whereas we were expecting 336 ME', notes the analyst.

Pending today's conference call, we are keeping our 2023 EBITA expectations unchanged", continues Oddo, cautious about advertising trends.

"We are expecting a 4.4% decline in TF1's advertising sales in 2023, which may be over-cautious, even if the base effect should be difficult. It should also be remembered that the group will broadcast the main matches of the Rugby World Cup in the third quarter.'

Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.