Canal+ VAT Dispute Settlement Prompts BofA to Lift Price Target

02:19 AM EST, 01/06/2026 (MT Newswires) -- BofA Global Research raised its price target for Canal+ (CAN.L) after a better-than-anticipated resolution to the media giant's VAT dispute with French tax authorities. Keeping the stock at buy, the research firm on Monday increased its price objective to 4 pounds sterling from 3.70 pounds, also noting the closure of its MultiChoice Group acquisition and recent refinancing news. "Just before Christmas, Canal+ announced a settlement of its long-standing VAT dispute for (Euro)363m. While substantial, we think the figure is a relief. In our view, it also adds further credibility to the management team. Next key steps will be disclosure of MCG synergies in late January, FY25 results mid-March and a detailed strategic update in April," the note said. Analysts at BofA also highlighted positive strategy progress, including now-profitable French operations, amid sustained direct-to-consumer subscriber growth for the sixth consecutive year, and partnerships with industry peers, Warner Bros. Discovery (J5A.F) and Netflix (NFC.F).