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Investing.com - Bernstein SocGen Group has resumed coverage of ITV Plc. (LON:ITV) (OTC:ITVPY) with a Market Perform rating and a price target of GBP80.00.
The research firm cited ITV’s approximately 90% free float and its "crown jewel" Studios business as offering an opportunity to participate in European television industry consolidation through public markets.
Bernstein SocGen noted that while the television advertising outlook remains soft, this factor is "arguably priced in" to the current share valuation.
The firm pointed out that ITV shares are currently trading at approximately a 50% premium to their historical average.
With "a limited range of near-term catalysts" for the stock, Bernstein SocGen analyst Annick Maas established the Market Perform rating and 80 pence price target.
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