01:00 PM EDT, 04/30/2024 (MT Newswires) -- RBC is "incrementally" more positive on the Canadian media sector and believe Q1/24 results should show sequential improvement following a challenging 2023, writes analyst Drew McReynolds.

"As 2024 progresses, we expect accelerating earnings growth driven by a gradual improvement in the operating environments

(economy, advertising, content demand) and easier YoY comps."

Valuation-wise, RBC continues to believe most FTM EV/EBITDA valuations provide attractive entry points assuming an economic hard landing is avoided.

Best ideas are VerticalScope ( VTCHF ) (Outperform, $14 price target), Cineplex (Outperform, $14 price target) and Transcontinental (Outperform, $21 price target).

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