Jun 09, 2017 07:58 AM IST | Source:

Buy Zee Entertainment Enterprises; target of Rs 592: Edelweiss

Edelweiss is bullish on Zee Entertainment Enterprises has recommended buy rating on the stock with a target price of Rs 592 in its research report dated May 16, 2017.

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Edelweiss' research report on Zee Entertainment Enterprises

ZEE, in its quest to enhance content, has launched a slew of programmes in Q4FY17 and has a fresh line up for Q1FY18 as well. Q4FY17 launches included Kuldeepak (March 27) & Agnifera (March 20) on &TV and Bin Kuch Kahe (February 6), Piyaa Albela (March 6) & Woh Apna Sa (January 23) on Zee TV.


Ad growth recovery, ZEE Anmol’s monetisation, improvement in regional markets and Phase III digitisation are key positives. Launch of Hindi GEC by Discovery and entry of Viacom18 in Tamil market in Q4FY18 will be key monitorables. We maintain ’BUY/SO’ with TP of INR 592. At CMP, the stock trades at 33.9x FY18E and 28.4x FY19E EPS.

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