No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - Analysts at Berenbeg hiked their target price on British media company Future from 2,280.0p to 2,600.0p on Tuesday after the firm stated it expects 2021 full-year adjusted underlying earnings to be materially ahead of expectations.
Berenberg made the target price move as Future's own upgrade was driven by a continuation of the strong trends seen in its media division in the first four months of the trading year.
Combined with the recent completion of its GoCo acquisition and the newly announced Australian acquisition of Mozo, Berenberg increased its full-year 2021-22 earnings per share estimates by somewhere between 14% and 23%.
The German bank also believes its 2021-22 forecasts to still be "very conservative" as they imply a slowdown in current organic trading and no revenue or marketing return on investment synergies from GoCo or Mozo, which it also believes could be "material".
"Future, therefore, remains one of our top picks in our UK smid-cap technology and media coverage," concluded Berenberg, which stood by its 'buy' rating on the stock.
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.