Accumulate Zee News, target of Rs 57: P Lilladher

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Accumulate Zee News, target of Rs 57: P Lilladher

Prabhudas Lilladher has recommended an accumulate rating on Zee News (ZNL) with a target of Rs 57. The research firm expects the company to post 24% and 37% revenue and earnings CAGR, respectively in FY08-11E.

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Prabhudas Lilladher has recommended an accumulate rating on Zee News (ZNL) with a target of Rs 57 in its September 24, 2008 research report. "We expect the company to post 24% and 37% revenue and earnings CAGR, respectively in FY08-11E. The stock currently trades at 22.9x and 16.8x our FY09E and FY10E earnings estimates and remains one of the cheapest stocks in our broadcasting universe. We assume coverage on ZNL with a Accumulate rating and a target price of Rs 57," says Prabhudas Lilladher's research report.

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