SXL – UBS rates the stock as Buy

UBS assumes the worst advertising market declines are in the June and September quarters before easing off in the December quarter. A recovery is expected from 2021.

Assuming no further debt constraints, the broker assesses there is value in the stock. However catalysts are lacking and investors may need to wait for a cyclical rebound.

Buy rating maintained. Target is reduced to $0.20 from $0.95.

Sector: Media.

Target price is $0.20.Current Price is $0.12. Difference: $0.08 – (brackets indicate current price is over target). If SXL meets the UBS target it will return approximately 40% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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