Publishing & Broadcasting (PBL) Stock Recommendation

UBS has rated the Publishing & Broadcasting (PBL) stock with a Buy 1 recommendation and an unchanged share price target of $20.60. The share price target is based on DCF: "sum of the parts and P/E, on an '08E basis and incorporates an implied A$2.58b [US$1.94b] for the Macau joint venture." Increased PBL online investment: "PBL has spent $35.3m increasing its stake in Seek by 2.4% to 27.1%. It has also launched a $151.5m takeover bid for the 56.1% of carsales.com.au that it does not control." PBL also has plans to purchase UK gaming company Aspinall: "PBL will initially purchase a 46% interest in Aspinall for A$91.8m, along with a option over a further 4%. Damien Aspinall will own the balance of the company. This is in line with our expectations of ~A$100m for 50%. Subject to shareholder approval the purchase will be funded by the issue of 5.4m PBL shares. Aspinall currently operates casinos in London and Newcastle." Meanwhile, another stock analyst, Macquarie Research Equities have retained their Outperform stock recommendation with a share price target of $18.50.

Publishing & Broadcasting Limited is listed on the Australian Stock Exchange (ASX) under stock code PBL. You can view their investor website here. PBL was listed on the ASX on 4 June, 1987. Principal activities of PBL are: Television production and broadcasting; magazine publishing and distribution; gaming and entertainment; investments in the internet, pay television, telecommunication and other media and entertainment sectors. Find out the meaning of the recommendations in this primer. Browse for other broker recommendations. Check your charts and good luck with your share trading!