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analyst price targets

STV Group Analyst Price Target Cut? The 120.36p Claim Is Unverified

The reported STV Group analyst target of 120.36p and 18.90% cut lack a verifiable source, date and analyst set. Here is what the company’s latest results establish.

By TheFinanceBase Team 3 min read

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The claim that STV Group’s average analyst price target was cut 18.90% to 120.36p cannot be verified from the available company materials. They do not identify the data provider, measurement date, analysts covered or previous consensus figure. STV’s latest reported results offer useful context for investors, but they do not establish that a target was cut or explain why.

Can the 120.36p average target and 18.90% cut be confirmed?

No. STV Group’s investor pages link to analyst research, but the accessible material does not substantiate either figure or explain how the average was calculated. It also does not identify the analysts or brokers included, the date the figure was measured, or the previous average. STV’s investor site and its research page do not, in the material available, verify the claim.

That matters because an analyst consensus is meaningful only with its date and coverage set: the number and identity of contributing analysts, and whether the figure is a mean or another measure. Without those details, 120.36p should not be treated as a verified current consensus. Nor is it sound to calculate an earlier target from the claimed percentage and present that result as confirmed.

What STV’s latest results do show

STV Group’s interim results, published on 8 September 2026, cover the six months ended 30 June 2026. They show a mixed operating picture: advertising revenue rose, but total revenue and adjusted operating profit fell. These results provide company context; they do not prove that analysts changed their targets or that the results caused a change. STV Group interim results, 8 September 2026.

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Revenue and advertising

Group revenue was £66.1 million, down 27% from £90.0 million in the first half of 2025. Total advertising revenue moved in the opposite direction, rising 5% to £48.1 million from £45.6 million. STV attributed the advertising increase to the positive impact of the FIFA World Cup; it should not be read as evidence that every part of the business was growing.

Profit: adjusted and statutory results differ

Adjusted operating profit was £5.9 million, down from £6.7 million a year earlier. Within that figure, Audience recorded adjusted operating profit of £11.1 million, while Studios recorded an adjusted operating loss of £3.2 million. The statutory operating result was a £20.5 million loss, including a £25.4 million non-cash impairment of Studios assets. Calling STV simply “profitable” or “unprofitable” without naming the measure and period would obscure this distinction.

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Debt and management outlook

Net debt was £42.9 million at 30 June 2026, compared with £45.3 million at 31 December 2025. STV reported leverage of 2.4 times against a covenant maximum of 3.75 times.

Management said the company remained on track to deliver £8 million of annualised run-rate cost savings by the end of FY26 and expected Studios to break even in FY26. It said FY27 Studios profit depended on positive decisions on a small number of material commissions. These are management expectations, not guaranteed outcomes. No interim dividend was proposed.

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How the figures compare with 2025

STV’s full-year results, published on 17 March 2026, cover the year ended 31 December 2025. They provide historical context, not a current run rate. STV Group full-year results, 17 March 2026.

Measure 2025 full year H1 2026
Revenue £176.9m £66.1m, down 27% year over year
Adjusted operating profit £11.6m £5.9m, down from £6.7m in H1 2025
Net debt £45.3m at 31 December 2025 £42.9m at 30 June 2026
Advertising revenue £89.3m, down 10% year over year £48.1m, up 5% year over year
Adjusted basic EPS 13.1p Not stated in the cited interim-results figures
STV Player viewing 75m hours, up 9% Not stated in the cited interim-results figures

STV proposed no final dividend for 2025; its interim announcement also proposed no interim dividend for H1 2026. The full-year figures should not be compared directly with a half-year period as if they covered the same length of time.

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What investors would need to assess a target change

A price target is an analyst estimate, not a company forecast or a promise that the share price will reach that level. To assess a reported change responsibly, first confirm it against an attributable, dated source. Then check:

  • the publication or data provider, measurement date and analysts included;
  • the prior and new targets, the target range, and whether the reported consensus is a mean or another measure;
  • the earnings assumptions and valuation method behind each estimate; and
  • how the analysis treats debt and other relevant obligations.

The company’s interim results alone cannot answer why any analyst may have changed a target. STV chief executive Rufus Radcliffe said the first-half performance was “in line with our expectations and previous guidance,” and attributed the offsetting effects of World Cup-related advertising and viewing, cost management, lower Studios profitability, programming-delivery timing and weakness in commissioning to management’s account of the period. That is management’s explanation, not evidence of an analyst’s reasoning.

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