JP Morgan extends MFE's B shares rating to its A shares

** Italian broadcasting company MFE - MediaForEurope's MFEA, MFEA class A and B-shares jump 3.2% and 3%, respectively, at 1020 GMT after JP Morgan extends its coverage to A-shares with same rating and PT as the latter

** Brokerage says its "overweight" coverage was limited to B-shares due to historical reasons, albeit both share classes have same economic interest

** It adds that while class B shares have more voting rights, class A offers more liquidity, and therefore argues for a preference for the latter

** Brokerage MFE has an attractive valuation, inelastic demand, synergies from Pro7 deal and further consolidation opportunities in Europe

** Its unchanged PT of 5.8 euros/share implies a 44% upside for MFE B shares and 90% for the MFE A shares

** Including today's rise, class A stock has gained 6.58 % YTD, while class B is only up 0.92 %​