Sharekhan has given Buy on the stock with a revised price recommendation for Zee Entertainment Enterprises with a target price of Rs. ekhan is bullish on Zee Entertainment Enterprises has recommended buy on the stock with a revised price target (PT) of Rs. 400 in its research report issued on Feb 02, 2022

Outlook

The company has been progressing well on digital business with launching new shows in each quarter. We believe the merger would be a strategic fit from a revenue perspective and would end corporate governance concerns. We expect the company to deliver a 19% CAGR in adjusted net profit over FY2022-FY2024E. The stock currently trades at a reasonable valuation at 18x/16x of FY2022E/FY2023E earnings. Given its large portfolio, strong regional presence and good traction on its digital platform, we maintain Buy rating on ZEEL with an unchanged PT of Rs. 400.

Leave a Reply

Your email address will not be published.