ICICI Direct has given Buy recommendation for Jagran Prakashan with a target price of Rs. 80 in its research report issued on Oct 27, 2021

ICICI Direct’s research report on Jagran Prakashan

Jagran Prakashan (Jagran) is a media conglomerate with interests spanning across printing and publication of newspapers & magazines, FM radio, digital, outdoor advertising and promotional marketing, event management and activation businesses. It publishes 10 publications from 13 states in five different languages. Group’s radio has operations at 39 FM stations besides web stations

Outlook

We maintain our BUY rating with cost rationalisation driving profitability recovery faster than anticipated along with healthy payout potential. We value Jagran at Rs 80 i.e. 8x FY23E P/E.

 

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