Stock Name: MEDIA
Company Name: MEDIA PRIMA BHD
Much ado about nothing? We do not believe that the determination to share sports content will benefit Media Prima greatly. If it wants prime sporting content, it will likely have to pay dear prices for them. We maintain our estimates and MYR2.34 TP on 13.5x 2012 PER. Although its current price poses only 9% downside risk, we maintain our SELL call for now pending a meeting with management. Note that 1Q12 gross TV adex plunged 11% YoY vs our estimate of +7% YoY.
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Source: Maybank Research - 19 April 2012
Company Name: MEDIA PRIMA BHD
| Research House: MAYBANK | Price Call: SELL | Target Price: 2.34 |
Much ado about nothing? We do not believe that the determination to share sports content will benefit Media Prima greatly. If it wants prime sporting content, it will likely have to pay dear prices for them. We maintain our estimates and MYR2.34 TP on 13.5x 2012 PER. Although its current price poses only 9% downside risk, we maintain our SELL call for now pending a meeting with management. Note that 1Q12 gross TV adex plunged 11% YoY vs our estimate of +7% YoY.
Click here for full report
Source: Maybank Research - 19 April 2012
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