FRANKFURT (dpa-AFX) - ProSiebenSat.1 investors were inspired by positive statements from US bank JPMorgan on Thursday. After analyst Daniel Kerven spoke in a study of a "better-than-expected start to 2025" and raised his operating profit estimate for this year by 5 percent, the media group's share price rose by more than 5 percent to EUR 5.28. At a high for more than a month, the shares tried to break away from the EUR 5 mark. The shares of competitor RTL rose by 1.3 percent.
The advertising business is showing signs of stabilization, wrote Kerven in his study, in which he raised the price target for the shares, which are rated "overweight", to 9.30 euros. He thus sees a high recovery potential of 75 percent. Since their interim high in 2021, the shares have slumped by 72%. At their record high almost ten years ago, investors had paid almost ten times as much for the shares at around 50 euros.
The media group has been facing growing competition from streaming providers for years. Even speculation that the Italian MediaForEurope Group could be planning a takeover had failed to drive the share price in recent months. At EUR 4.50 in December, the shares were as cheap as they had last been in 2009./tih/mis