ITV’s Connected TV advertising proposition has “a lot to offer” according to Deutsche Bank, which remained upbeat on the broadcaster.
Analysts at the bank believe that Connected TV, that is a TV with built in streaming content capabilities, “provides an attractive option for big-screen, sound-on advertising.”
“While the focus has been on the structurally challenged linear TV advertising business, we believe the growth in advertising within ITVX is still at a nascent stage and a step up her should compensate for the decline in linear TV,” the broker said.
ITV raised its target price to 102p from 100p and maintained its buy recommendation on the stock.