This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Trade Parameters
Technical Observations – For
Technical Observations – Against
On 25 July ITV reported a 2.3% rise in first-half pre-tax profit helped by the football World Cup. Dow Jones news summarised investors liking plans to move towards becoming a more integrated producer-broadcaster and said analysts believe it could become a takeover target, although Brexit uncertainties could reduce the appeal.
Risks to ITV shares include a downturn in corporate demand for advertising slots (TV, online), Brexit uncertainty, broker downgrades and competition from on-demand media.
Consensus is biased positive with 95% of brokers saying either Buy or Hold, and only 5% saying Sell (only one analyst). This is supported by 82% of analysts suggesting upside from current levels with a medium-term target price of 194p which is above our objective of revisiting recent July highs but also favours the current rising channel.
Next Event: Capital Markets Day, 19 Sept; H1 Results, 26 Oct
Latest Broker 12-Month Consensus: 50% Buy, 45% Hold, 5% Sell (full breakdown on request)
Source: DowJones Newswires, Reuters News, Bloomberg or Company Press releases
| Share | 1wk | 1m | 3m | 6m | 1yr | 2yr | 3yr | 4yr | 5yr |
| Perf % | 1.3 | -7.2 | 10.7 | 4.2 | -4.6 | -15.9 | -38.4 | -17.2 | 0.1 |
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Prepared by Michael van Dulken, Head of Research