SWM – UBS rates the stock as Neutral

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Seven West Media’s debt facilities have been extended and secured via a security deed, reports UBS.

The revision of its AFL contract will lead to cost savings of $87m over the existing term, highlights the broker. There will be permanent cost savings of $170m, mostly in FY20-21 and across both TV and print.

There will also be temporary cost savings in FY20 worth $50m. The company will be reporting its results on August 25.

UBS maintains its Neutral rating with a target price of $0.12.

Sector: Media.

Target price is $0.12.Current Price is $0.11. Difference: $0.01 – (brackets indicate current price is over target). If SWM meets the UBS target it will return approximately 8% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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