CSFB says PBL's (PBL.AU) market-leading Nine TV network might be worth A$2.7 billion-A$4.1 billion based on FY05 ebitda multiples of 10-15X. Tips flat FY05 earnings for network, first time since 2001 economic downturn. Says PBL "remains our preferred pick in the domestic media space in spite of our small profit downgrade," notes "press conjecture" about potential deals for PBL if media laws change. Keeps at Outperform, target price A$19.00 vs latest down 3 cents at A$14.81.
PBL Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
