The update from ITV appears on the face of it to be reasonable with trading in line and an anticipated uptick in advertising, albeit subject to the now standard caveat regarding political and economic certainty in the UK.

Given the above, the negative reaction from Mr Market is somewhat surprising, with the share price down at around 144p at the time of writing. It may be that I have missed something, which would not be unusual, but the stock is now trading on a forward PE of close to 9, pays a good dividend and despite the increasing debt level is financially robust.

Thoughts and views of the Stockopedia community welcome.

As you might expect I hold ITV and am tempted to add at these levels.

Good luck to all

Jonno

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