0009 GMT - This week's trading updates from Australia's two largest free-to-air broadcasters show that the outlook for TV ad markets has become more cautious in just three months, Goldman Sachs analysts write in a note. They point out that Seven West Media expects its total December-half revenue to fall by 6.5% compared with its previous forecast of a 4.9% decline. Looking further ahead, they add that Nine Entertainment didn't reiterate its prior expectations for June-half growth across the industry. GS cuts its target price for Nine by 13% to A$1.65, and for Seven West by 7% to A$0.13. Nine is a buy, Seven West is a sell. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
November 07, 2024 19:09 ET (00:09 GMT)
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