New York, July 17 (FinanceEnquiry.com) – Analyst Alex Wisch at S&P CAPITAL IQ maintains MARKET WEIGHT on the shares of Media.
In a research note published yesterday, the analyst mentions that the rating has been maintained to market weight as a balanced set of risks and opportunities has been seen for the sector over the next 12 months. The sluggish economic performance in Europe might continue to weigh down on local cyclical groups, mainly broadcasting.
However, European companies with a footprint and exposed to global advertising might see a significant boost from the big advertising boosting events like the European football championship, the London Olympics and the US presidential elections.
However, it has been expected that Q2 12 season would show a mixed bag with locally oriented broadcasters and publishers with low pricing power to see significant pressure on earnings mainly in southern Europe.
More positivity would be there in the event of a significant improvement in leading economic indicators in Europe and North America in the coming few months, which might filter down to more buoyant advertising markets. However, apart from recent fall in share prices, a full blown recessions in the developed world has not been yet priced in, the analyst says.
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