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Berenberg raises target price on M&C Saatchi following FY25 results
(Sharecast News) - Analysts at Berenberg raised their target price on advertising agency M&C Saatchi from 150p to 170p on Monday, following the group's full-year results and "reassuring outlook". Berenberg noted that M&C's FY25 results were in line with market expectations and also pointed out that the firm was confident in its ability to deliver FY26 numbers in line with consensus expectations, which it said was "reassuring" given the market's concerns about advertising spend due to the conflict in the Middle East.
The German bank highlighted that this confidence was driven by "expectations of continued strong growth in the highmargin Issues and Media specialisms", as well as greater cyclical resiliency of government work.
"With a renewed focus on shareholder value, the board is suggesting buying back shares in replace of the annual dividend, which makes sense to us given the shares trade on a P/E of 7.9x," said Berenberg, which reiterated its 'buy' rating on the stock.
Reporting by Iain Gilbert at Sharecast.com
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