FRANKFURT (dpa-AFX) - ProSiebenSat.1 shares suffered on Monday from a negative commentary by AlsterResearch. The share price only stabilized in the area of the 21-day line. This short-term trend indicator runs at EUR 5.88. In the early afternoon, the shares were still one of the biggest losers in the second-line index SDax, falling by 4.5 percent to 5.95 euros.

Analyst Harald Hof from AlsterResearch downgraded the shares from "Hold" to "Sell" with an unchanged target price of 5.10 euros. Although the Group is broadly positioned with its many television channels, entertainment platforms and digital activities, it remains under structural pressure. The target group of under 49-year-olds is increasingly turning away from traditional television. Combined with the difficult economic situation, this could lead to continued weak business development.

The difficult business development is also reflected in the share price. Towards the middle of 2021, some shares were still trading at 19 euros. The record high in 2015 was even almost 51 euros./mis/jha/