Member Info for NigeCo

At the end of December, ITV (LSE: ITV) was the 13th largest holding in Woodford�s Income Focus fund, with a weighting of 2.2%. The portfolio manager bought ITV back in September, stating at the time that the broadcaster is a �highly-cash generative business with a good track record of returning excess cash to shareholders through special dividends.� Woodford went on to explain that the stock�s valuation looked attractive, and that the risks surrounding the industry were priced into the share price. I agree with Woodford�s stance on ITV, and believe that the risk/return profile of the stock looks attractive right now. For a start, the valuation is low. With analysts expecting earnings of 15.7p per share for FY2017, the P/E ratio is just 10.3. That�s 45% lower than the FTSE 100 average trailing P/E of 18.8. Furthermore, with the shares having fallen over 20% in the last year, the dividend yield looks very tempting. Analysts expect a payout of 7.8p per share for FY2017, a yield of 4.8% at the current share price. ITV is a much more diversified business than it used to be, and now generates 50% of its revenues from sources other than spot advertising. An update in November confirmed that its Studios and its Online, Pay and Interactive divisions were performing well. As a result, I believe the stock is a �buy� right now. https://www.fool.co.uk/investing/2018/02/12/2-neil-woodford-dividend-stocks-id-buy-right-now/

Hi Solley, You're welcome mate. It will be interesting to see the outcome regarding Liberty's European asset sale to Vodafone. If a deal is done (figures talked about range from Eur14bn to 30bn-plus) Then I would hope that Liberty makes an offer for ITV, it would be an obvious choice. On way or another we will find out Liberty's future plans, and if they involve ITV. JMHO.

Hi Solley, Liberty Global bought a 6.4% stake from Sky for �481 million or 185p per share. I don�t know how much Liberty paid for the remaining 3.5% stake. Total Liberty ITV shareholding 9.9%. https://www.campaignlive.co.uk/article/liberty-global-buys-skys-itv-stake-481m/1303976

Trupcard, Liberty media clearing the decks for a ITV bid?

ITV shares down 3.03% today, and 5.24% on the week on no news. CRAZY MARKETS.

Hi Tom, Yes I agree, results can�t come soon enough. Roll on 28 Feb, hopefully some good news to help the share price recover.

Agreed Tom, It's tin hat time. GL

Hi Tom & Solley, I think I�ve read somewhere that it will be in the spring.

Hi Tom, I�m expecting a re-rating of the share price if we are successful in extracting a payment from Virgin Media for re-transmission fees for ITV1.

Apologies wrong thread.

ITV outperforms market on advertising upgrade hopes ITV outperformed a sagging London market on Wednesday amid hopes of an upgrade to advertising forecasts. A survey of UK media buyers by Credit Suisse found unexpected optimism about the outlook for 2018. Positive momentum from the fourth quarter has carried into the new year, with the World Cup in June underpinning confidence of a first-half recovery, it said.The broker�s poll found that, while the outlook for the second half remained uncertain, buyers expected ITV�s net advertising revenue to increase 2 per cent in 2018 compared with a market consensus of no growth. It repeated a 210p price target on ITV shares ahead of full-year results next month from the broadcaster, which will be the first for new chief executive Carolyn McCall. Alphavalue analysts were also positive on ITV, largely on the value of its Studios business. �While the domestic ad market remains a shambles (our model factors in a further 3.2 per cent decline for 2018), the group�s studio capabilities are worth a bundle and should be increasingly attractive for a potential bidder,� they said.ITV closed 2.3 per cent higher at 168p.

IMHO, if L&G can break 220p, the share price may well close the gap down of 236p at the time Brexit. I think that L&G are a good long-term hold and believe that the patient investor will be handsomely rewarded. Any other views / opinions welcome?

Yes, 230p would be nice.

My apologies GS, correction AV.

When SL. Reported results last week their share price went up 7% on the day, a repeat of this would be most welcome. IMHO, L&G are a well run company with good management. Before Brexit L&G were reported to be cheap at 240p. If management are correct that Brexit makes little difference to them, I see a Y/E price target of 300p. Happy to hold and collect the good dividend yield on offer.

Woodford has been buying more L&G. http://www.whatinvestment.co.uk/financial-news/funds/2536006/neil-woodford-the-five-uk-shares-iand39ve-bought-more-of-because-theyand39ve-been-made-a-bargain-by-brexit.thtml

Agreed Mat, IMHO, the patient L&G investor will be handsomely rewarded, in the meantime keep picking up the excellent dividends on offer. What's not to like.

Neil Woodford's five Brexit bargains http://www.iii.co.uk/articles/340731/neil-woodfords-five-brexit-bargains?context=LSE:LGEN

And L&G has some big name backers. In a note to investors last week, Woodford Investment Management said that the company was “well-placed to deliver very attractive rates of sustainable dividend growth”. It had been buying more L&G shares to “take advantage of the ill-informed investor behaviour”. http://www.ft.com/cms/s/0/b5515ec8-4a95-11e6-b387-64ab0a67014c.html#axzz4EhR3eN32

Reassuring words. http://www.cityam.com/244299/legal-general-share-price-leaps-appoints-new-chairman-and