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Article: JP Morgan downgrades Mediaset to "neutral" - 2.
- Article from:
- ADP News Italy
- Article date:
- September 21, 2009
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(ADPnews) - Sep 21, 2009 - JP Morgan cut the rating on Italian commercial broadcaster Mediaset SpA (BIT:MS) to "neutral" from "overweight".
The US broker, however, confirmed its EUR 5.60 share price target on the Italian group in a report on the European publishers, according to which the cyclical stocks in the media sector have substantially outperformed the Morgan Stanley Capital International (MSCI) index and their risk profile in the short term is no longer attractive.
We still see an upside in the quotations of the major cyclical media, however significantly lower than what we expected in mid-May, the analysts said. Therefore, now it is the time to ...