Berenberg picks top media stocks for deal-hungry 2022

Criteo SA (Pre-Reincorporation)

12/01/2022 07:36

** Berenberg names its top media stocks for 2022, predicting
a pickup in M&A in some COVID-hit sectors and some possible
interest in blockchain start-ups as NFTs continue to be a hot
topic
    ** "2021 was already quite an active year in this respect,
but the heat could increase in 2022, particularly if it looks as
if rates are going to rise," it says on M&A
    ** Top stocks include advertising technology player Criteo
 CRTO.O , which nearly doubled its share price last year, and
the broker believes the company is "substantially undervalued"
as the sector moves away from third-party cookies
    ** Game maker Electronic Arts  EA.O  continues to benefit
from strong user engagement and should enjoy synergies from its
recent M&A, Berenberg says, while events group Informa  INF.L 
should benefit from monetisation of its Intelligence business 
    ** Advertiser JCDecaux  JCDX.PA  could benefit from stronger
sales recovery and margin beat in 2022, it adds, while Scout24
 G24n.DE  could outperform peers and a successful Viaplay launch
in Netherlands should help Northern Entertainment Group
 NENTb.ST  this March
    ** Berenberg recommends "sell" for Adevinta  ADEA.OL  and CD
Projekt  CDR.WA , saying both performed poorly last year given
the former's need for more investment and the latter's overly
ambitious plans and next generation game pricing issues

 (Reporting by Sarah Morland)
 ((sarah.morland@tr.com
mailto:sarah.morland@thomsonreuters.com))