Canal+ has been given a Neutral rating and a target price of 240p by UBS, following its debut on the London Stock Exchange.

UBS acknowledges that Canal+ has potential opportunities to significantly improve its free cash flow. However, UBS is cautious due to concerns about value erosion resulting from the MultiChoice transaction.

Canal+ has made a non-binding indicative offer to acquire all outstanding ordinary shares of MultiChoice that it does not already own. This move demonstrates Canal+'s ambitions in the market, but investors are still focused on the implications of the transaction.