Analysts bullish on ProSieben

Analysts have upgraded their forecasts on ProSiebenSat.1 after the German broadcast group posted solid financial results yesterday.

Morgan Stanley, which was forecasting flat revenues from the company’s German operations this year, is now predicting 1.7% growth, based on a strong start to the year and commitments from advertisers. The investment bank also slightly increased its forecast for revenue growth at ProSieben’s international operations to 4.8%.

In raising its FY12 forecasts, Morgan Stanley noted that ProSieben gives more detailed financial guidance than any other European broadcaster, which it considers as a sign of confidence in the German TV advertising market.