A leading investment bank has raised its share price targets for a handful of publishing companies, in what could be the first sign that the City is feeling more optimistic about the media.
Goldman Sachs today upped its target for Daily Mail and General Trust from 257p to 346p, and for Trinity Mirror from 31p to 88p. It comes after both publishers said in trading updates this month that the advertising revenue decline was showing signs of slowing down.
Financial Times publisher Pearson has been given a new target of 767p, up from 652p. There were similar rises at two B2B groups – Informa’s target was upped from 256p to 364p and Reed Elsevier up from 622p to 734p.