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Nielsen -9.5% amid weaker case for sale


Nielsen Holdings (NYSE:NLSN) is 9.5% lower in the regular session in the aftermath of a report suggesting support for a sale of the company is crumbling.

The New York Post said Blackstone would drop out of the running, and that rival bidder Apollo Global Management was also losing interest.

That sale is no longer a foregone conclusion, says Credit Suisse analyst Kevin McVeigh, cutting his price target to a Street-low $23 from $27 (and seeing shares down to $19 in a scenario with no deal, even for Nielsen’s Watch unit).

That $23 target implies another 5% downside beyond the 9.5% drop today.

Nielsen had explored unloading its “Watch” segment last year before looking at selling the whole company, but a more competitive environment for Watch could crimp prices for it or Nielsen as a whole, McVeigh says.

Source: M A News on Seeking Alpha