ICICI Direct has given Buy recommendation for Zee Entertainment with a target price of Rs. 300 in its research report issued on Aug 13, 2022

ICICI Direct’s research report on Zee Entertainment

Zee Entertainment (Zee) is one of the largest listed media companies in India, which owns and operates a bouquet of 49 TV channels across 11 languages and also an OTT app Zee5. The company’s TV network viewership share was at 16.1% in Q1FY23 (17.1% in Q4FY22), due to pull-out of Zee Anmol from free to air (FTA).


We marginally cut our earnings estimates and target price but maintain BUY. Strong ad recovery from H2 and likely merger consummation with no visible impediment, remain key triggers. We value Zee at Rs 300, at 20x FY24 P/E.

Leave a Reply

Your email address will not be published. Required fields are marked *