Buy DB Corp; target of Rs 310: KRChoksey

ALSO READ See previous views by KRChoksey See what other Experts & Brokerages are saying about D B Corp See messages about D B Corp DB Corp BSE | NSE 10/02/12 Are Mutual Funds betting on DB Corp?

KRChoksey is bullish on DB Corp and has recommended buy rating on the stock with a target of Rs 310 in its September 2, 2010 research report.

"DB Corp to register higher growth compared to its peers due to its strong presence in 11 states and proven track record of successfully penetrating new geographical areas. Jharkhand where the company has launched its editions in Ranchi has become a leading player in terms of circulation, which opens avenues for ad growth. DB Corp's strategies to grab subscribers offer it a substantial opportunity in advertisement front."

"At CMP of Rs 248, the stock is trading at 17.2x FY11E EPS of Rs 14.4 and 14.5x FY12 P/E EPS of Rs 17.2. Based on our SOTP valuation, at current levels we reiterate our BUY rating on the stock with 12-month target price of Rs 310, representing an upside of 25%," says KRChoksey research report.

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