RBC Dominion Securities analyst Drew McReynolds reports a positive outlook for the Canadian media sector as advertising conditions improve ahead of the fourth-quarter 2024 earnings. He highlights significant gains among several stocks, with VerticalScope leading at a 126% increase. McReynolds emphasizes stocks with digital advertising exposure and predicts continual recovery, suggesting the potential for further price appreciation as the advertising market strengthens into 2025 and beyond. His recommended stocks include VerticalScope and Cineplex, reflecting confidence in renewed growth.
"We continue to see decent entry points for most stocks in our diversified media coverage provided the ongoing improvements in advertising and the content cycle continue."
"2024 proved to be a much better year for Canadian media stocks... led by VerticalScope (up 126 per cent), WildBrain (up 51 per cent), and Cineplex (up 46 per cent)."
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