Deutsche Bank announced on Friday that it had raised its target price for Canal+ shares from 240 to 270 pence, while maintaining its "buy" recommendation on them.

In a note released this morning, the analyst said he expects the audiovisual group to report a 3% decline in H1 revenue to €3.1bn on 29 July.

The analyst explained that he anticipates a temporary impact from the group's strategic initiatives, particularly in Europe, where Canal+ has withdrawn from contracts deemed unprofitable in the medium term.

In Europe, revenue is expected to decline by 4.5% to €2.3bn, while revenue in Africa and Asia is expected to amount to €522m, down slightly (-0.9% y-o-y, but marking an improvement compared to the first quarter, thanks to a more favourable comparison basis, he added.


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