• by Joe Mandese , June 4, 2018

Asserting that investor sentiment toward Nielsen is “overly negative at this point in time,” Wall Street analyst Brian Wieser has upgraded the media and market researcher’s stock to “buy” from “hold.”

Characterizing the change as “opportunistic,” Wieser implied that Nielsen’s shares currently are undervalued relative to their strong fundamentals.

Wieser also said he is maintaining the target price of Nielsen shares at $35.

Nielsen shares closed Friday on the New York Stock Exchange at $29.83.

“There are many negative factors understandably weighing on Nielsen stock. However, we think they are likely overdone as the long-term durability of the business remains in place,” Pivotal Research Group’s Wieser wrote in a note sent to investors this morning. “For example, we think investors look at trends around national TV measurement through a negative lens.

"Open AP and other initiatives focused on expanding the use of non-age/gender-based metrics are commonly viewed as negative for Nielsen, as there is a view that advertisers will reduce their reliance on age/gender-based metrics. We think this is not likely to occur broadly any time soon.”

While advertisers remain interested in complementing traditional demographic targeting, he said they will continue to rely on Nielsen data as the basis of their media buys.