Barclays lowers Mediaset target price and raises Atresmedia target price

Barclays gave the major Spanish audiovisual groups a piece of cake and a piece of sand. In their latest report, experts from the British firm have raised Atresmedia’s target price at €3.00, against €2.90 previously, while they have reduced the broadcast of Mediaset España at 3.75 euros, against 4 euros previously. They also decided to maintain their opinion of “underweight”. value for the chain based in San Sebastián de los Reyes, and that of “maintain”. for that of Fuencarral.

This Monday, the boards of directors of MFE-Mediaforeurope and Mediaset drafted the joint cross-border merger project, which will make Mediaset the company absorbed by MFE. The deal still needs to be approved by general shareholders’ meetings, which are expected to be held in the first quarter of 2023.

“It is almost certain that the merger will happen, which means that. Mediaset España would cease to be listed on the Spanish stock exchange in June 2023.“, say Barclays experts in their report.

Following the merger, Mediaset will be absorbed by MFE and will cease to exist as an independent company.and Mediaset will acquire, by universal succession, all rights and assume all obligations and other legal relationships of Mediaset.

The news was not well received by investors and shares of the Fuencarral-based chain fell 2.75% on the stock market. Continuous market.

Atresmediafell 0.35% on Tuesday, although for technical analysis “It has been looking very good since the beginning of October,” said César Nuez, an analyst at Bolsamanía.

“Over the past few weeks, we have witnessed a consolidation of levels which seems to invite us to reflect on a future attack on last year’s highs at 3.62 euros.“, emphasizes Nuez, who insists on the importance of its performance at this price level.

“If she manages to overcome it, a change in trend could be confirmed with an upward target of 5 euros.5, prices that could be reached in the next few months. The first level of support is at 3.22 euros,” concludes the expert.

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