ITV share price: what’s the latest ahead of its Q3 trading update?
The British broadcaster will unveil its third-quarter results next week, with investors hoping the stock will continue to rise after climbing 30% since August.
ITV will unveil its third-quarter (Q3) results next Tuesday and with the stock up 30% since August investors are hoping the rally will continue.
However, the British broadcaster faces an uphill battle, blaming Brexit uncertainty for declining advertising revenues and a burgeoning streaming market vying for viewers’ attention.
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Liberum Capital remains optimistic about ITV
Even though ITV’s share price has performed well in recent months, analysts are optimistic that the broadcaster will continue to make gains.
Liberum Capital reiterated its ‘buy’ rating for the stock and issued a target price of 180p a share. ITV closed at 134p a share on Tuesday. Therefore, analysts at Liberum believe the stock has a 34% potential upside.
Reaching that price will be a challenge, however, with the broadcaster facing a myriad of challenges, the largest of which being the new era of streaming services driven by the likes of Disney and Apple.
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ITV’s BritBox goes live
ITV’s streaming offering BrixBox is now live, hosting a large catalogue of British content which it hopes will be enough to persuade consumers to subscribe to the service for £5.99 a month.
Investors will be interested to see how many subscribers BritBox has attracted when it releases its Q3 earnings next week, with the broadcaster forced to compete with Netflix, Amazon and now Apple and Disney for viewers hard earned cash.
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