Seven West has withdrawn earnings guidance for FY20 because of “escalating uncertainty”.
In addition to a weak TV advertising market the company has also indicated the suspension or postponement of key exclusive content, such as the AFL, is a contributing factor.
The company has stated that its priority is to reduce debt ahead of the scheduled maturities in November 2021 and 2022.
Morgan Stanley does not have a rating or target at present. Industry view is Attractive.
Current Price is $0.07. Target price not assessed.