STV continues to be viewed as a mature broadcaster, yet it is transforming into a growing streaming and production business. We see continued double-digit growth prospects in these areas, together with a resilient broadcast business, and calculate five-year growth of 7% pa in revenue / 10% pa in operating profit for the group (FY23E-FY28E). Near-term economic pressures are factored into current EPS estimates, but should also drive eyeballs towards STV’s free AVOD service. Current valuation (7.6x ....
07 Feb 2023
PROGRESSIVE: STV Group Initiation Note: Towards streaming and content
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PROGRESSIVE: STV Group Initiation Note: Towards streaming and content
STV Group plc (STVG:LON) | 234 0 0.0% | Mkt Cap: 109.6m
- Published:
07 Feb 2023 -
Author:
Jonathan Helliwell -
Pages:
58
STV continues to be viewed as a mature broadcaster, yet it is transforming into a growing streaming and production business. We see continued double-digit growth prospects in these areas, together with a resilient broadcast business, and calculate five-year growth of 7% pa in revenue / 10% pa in operating profit for the group (FY23E-FY28E). Near-term economic pressures are factored into current EPS estimates, but should also drive eyeballs towards STV’s free AVOD service. Current valuation (7.6x ....