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Investing.com - Bernstein SocGen Group has raised its price target on Canal+ SA (CAN:LN) to GBP3.70 from GBP3.55 while maintaining an Outperform rating on the stock.
The price target increase represents a potential upside of more than 50% based on conservative assumptions, according to the research firm.
Bernstein SocGen described Canal+ as a "Marmite" stock, suggesting it divides investor opinion, with those seeking simple narratives likely to avoid it.
The firm believes Canal+ presents a valuable opportunity for investors willing to consider complex situations that may create value dislocations in the market.
Bernstein SocGen also noted there could be "significantly more" upside potential if the integration of MultiChoice proceeds smoothly, though no specific timeline was provided for this process.
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