The analyst believes that the group has announced solid preliminary results for Q1 2024. Following this announcement, UBS confirms its neutral recommendation on the stock, with a price target of E5.8, representing a potential downside of 24%.

' Adjusted EBITDA for the 1st quarter is 16% above UBSe's forecast, thanks to stronger advertising activity and the momentum of Verivox and flaconi ' says UBS.

ProSiebenSat.1 is still aiming to increase its consolidated sales for the full year to around €3.95 billion, with a variance of plus or minus €150 million (versus €3.85 billion for the previous year).

At the same time, the Group continues to expect adjusted EBITDA of 575 million euros (versus 578 million euros for the previous year), with a variance of plus or minus 50 million euros.

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