- (PLX AI) - ProSieben shares rose 1.6% after upgrading outlook last night, but were off highs as Bank of America analysts reiterated an underperform rating.
- • ProSieben raised its outlook after Q2 earnings soared; now sees FY adjusted EBITDA EUR 820 million, up from EUR 750-800 million previously and FY revenue EUR 4,400-4,500 million; up from EUR 4,250-4,450 million previously
- • But Bank of America analysts said downside risk to ad growth remains
- • Attention will rapidly be shifting to second-half and 2022 ad trends, which may be a lot softer given high comparisons from a year ago and continued Covid-19 disruptions, BofA said, keeping a price target of EUR 14.50 unchanged
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