Mediaset shares steady despite report
EmptyVENICE, Italy -- Morgan Stanley lowered its target price for Italian broadcaster Mediaset on Friday, but company's share price remained flat in the final day of trading before the weekend.
Mediaset closed up €0.01 Friday to close at €7.78 ($10.61), an increase of 0.06%.
The report from Morgan Stanley lowered the target price for Mediaset from €8 ($10.91) to €7.20 ($9.82), citing a weak advertising market and costs associated with the company's acquisition of reality television content producer Endemol.
Mediaset, Italy's largest private broadcaster, is controlled by former Prime Minister and billionaire media tycoon Silvio Berlusconi.