Southern Cross Media has an affiliation agreement with the Ten Network in selected markets, which UBS believes will remove an overhang.
The agreement covers regional Queensland, southern NSW and regional Victoria for two years commencing July 1 2021. As the overhang has now removed and advertising markets are continuing to improve the broker retains a Buy rating. Target is $2.50.
Sector: Media.
Target price is $2.50.Current Price is $2.07. Difference: $0.43 – (brackets indicate current price is over target). If SXL meets the UBS target it will return approximately 17% (excluding dividends, fees and charges – negative figures indicate an expected loss).
