Publishing & Broadcasting (PBL) Stock Recommendation

Publishing & Broadcasting (PBL) have a Neutral 1 stock recommendation and a share price target of $23 from stock analyst and investment bank UBS. They have noted the restructuring announced last month has significantly reduced PBL's
exposure to its traditional media assets. They estimate that around 7 percent of UBS' valuation relates to PBL Media, or just $1.44, thereby substantially lessening the leverage to this group of PBL's assets. They also note the $2 billion plus cash and so so the market will be watching out for acquisitions made by PBL which UBS expects to be focused on gaming and media interests. PBL is actively looking for more opportunities in asia with a potential joint venture (JV) in Singapore confirmed. UBS notes that developments in Macau will the key short term driver. UBS also expects PBL to list on the Nasdaq this year.Their target price of $23 is determined from the sum of parts, with the increase reflecting a slight lift in our applied gaming multiple [from 9.5x to 10.5x] as well as a partial bridge of the gap between our valuation for PBL-Melco and that implied by the current Melco share price.

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. PBL is involved in television production and broadcasting; magazine publishing and distribution; gaming and entertainment; investments in the internet, pay television, telecommunication and other media and entertainment sectors. James Packer is the Executive Chairman for Publishing and Broadcasting. Find out the meaning of the recommendations in this primer. Browse for other stockbroker recommendations. Check your charts and good luck with your share trading!