Barclays raises MFE-MediaForEurope to 'overweight' on cheap valuation after Pro7 deal

Mfe-mediaforeurope NV

22/09/2025 10:11

** Barclays upgrades Italian media group MFE-MediaForEurope MFEB.MI to "overweight" from "underweight", seeing shares as inexpensive including synergies after its acquisition of ProSiebenSat.1 PSMGn.DE

** The brokerage notes the A-shares trade on a 2027 Price-to-Earnings ratio of 6x, a significant discount to the peer average of 10.3x

** The upgrade reflects MFE's new controlling stake of 75.61% in ProSiebenSat.1, allowing it to drive strategy and consolidate their financials, it adds

** Barclays lifts its price targets on A and B shares to 4.15 euros ($4.88) and 5.50 euros respectively, saying "financial analysis is an art, not a science"

** The broker notes that 2026 ad trends should see improvement from easy comparables and the FIFA World Cup acting as catalysts

** B-shares are up 2.6% at 4.67 euros, as of 0830 GMT, after rising as much as 5.1%, and A-shares gain 2.8% to 3.36 euros after rising as much as 3.8%

** Of 10 analysts, five rate the stock "strong buy" or "buy,"​ three "hold" and two​ "strong sell" or "sell" - LSEG data

($1 = 0.8501 euros)

 (Reporting by Laura Contemori)

 ((Laura.contemori@thomsonreuters.com))