UBS had already upgraded its outlook for the free-to-air ad market and Seven West Media's update at its AGM did indeed reflect an improved outlook in FTA. The broker nevertheless awaits Nine Entertianment's ((NEC)) AGM to confirm overall market conditions.

Seven revealed 145% growth in broadcaster video on demand, including 50% post-Olympics, but the broker questions whether BVOD revenues can be sustained over a multi-year timeframe. FY22 earnings forecast rises 9% but no change further out.

Buy and 95c target retained.

Sector: Media.

Target price is $0.95.Current Price is $0.56. Difference: $0.39 - (brackets indicate current price is over target). If SWM meets the UBS target it will return approximately 41% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2021 Acquisdata Pty Ltd., source FN Arena