FRANKFURT (dpa-AFX Broker) - Unlike the overall market, the shares of ProSiebenSat.1 continued their good start to the year on Tuesday. Driven by an analyst commentary from UBS, the share price approached the 10-euro mark for the first time since June, rising 5.4 percent to 9.81 euros. This increased their annual gain to more than 17 percent, which means a place in the top third of the MDax. The index of mid-sized stocks has gained just over 13 percent so far this year.

UBS analyst Richard Eary raised the price target from 8.80 to 11 euros, which means he sees more than 12 percent price potential. The expert justified this with increased profit expectations until 2024 and somewhat better expectations for the 2022 revenues generated by television advertising. He referred to recovered German sentiment indicators in the fourth quarter.

A more significant recovery in the advertising business is realistic in the second half of 2023, he said, because of a then simpler basis for comparison. Eary believes this, together with a possible IPO of the dating or lifestyle business, could further boost the share price./tih/mis