FRANKFURT (dpa-AFX) - A positive study by Citigroup on ProSiebenSat.1 propelled the shares of the media and television company to the top of the SDax index on Monday. At lunchtime, it gained almost 5 percent to EUR 7.04 in the index of 70 smaller stocks and reached its highest level since mid-September.

With this latest jump in the share price, the stock also moved a little further upwards away from the upward moving 21-day line. This signals the short-term trend to investors interested in the chart and currently stands at around EUR 6.50. The 200-day line is also slightly above this level.

According to his study published on Friday evening, analyst Thomas Singlehurst has awarded ProSieben shares "Positive Catalyst Watch" status. Ahead of the first quarter figures due on May 14, he sees a convincing risk/earnings ratio for the share in the short term. According to him, there are two main reasons for this: the company's improved operating trends and the potential offered by the sale of assets outside the TV business. He continues to rate the share as a "buy" with a target price of EUR 13.

According to the expert, advertising trends are likely to have improved further in the first quarter of 2024 compared to the final quarter of last year. This could lead to an increase in the average analyst estimate (consensus) for advertising growth in the DACH region (Germany, Austria and Switzerland) for the year as a whole, he wrote. Despite difficult market conditions, the TV group had already earned more than expected in the important Christmas business. In March, CEO Bert Habets also referred to the recovery of the advertising market.

With Monday's jump in the share price, ProSieben shares continued their recovery. In October, they had fallen to a low since 2009 at just under EUR 5. Since then, they have recovered by 44 percent. Nevertheless, they still cost more than EUR 50 in 2015./ck/mis/ngu