** Shares of Australia's Seven West Media SWM.AX drop 2.9% to A$0.17
** SWM stock gained over 6.1% on Tuesday after hinting that the local advertising market was finally turning
** Analysts at Macquarie say the Australian TV market has been in decline over the last 15 years and flags that streaming competition remains a key risk for the firm
** Brokerage is cautiously optimistic on co's earnings outlook; adds EBITDA is looking to stablise around A$160 mln($100.85 mln) across FY25 and FY26
** Adds co's discussions on capital management seem pre-mature and Macquarie will need to see greater confidence in the local TV market outlook
** Brokerage has a PT of A$0.18 and is "neutral" on stock
** SWM stock has gained 13.3%, YTD
($1 = 1.5865 Australian dollars)
(Reporting by Rishav Chatterjee in Bengaluru)
((Rishav.Chatterjee@thomsonreuters.com;))