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Buy TV Today, target of Rs 117: Angel
Angel Broking has recommended a buy rating on TV Today Network with a target of Rs 117. TV Today Network (TVTN), a focused News broadcaster with a strong bouquet of four news channels, has maintained its leadership in the News Genre over seven consecutive years.
Angel Broking has recommended a buy rating on TV Today Network with a target of Rs 117 in its September 12, 2008 research report. "TV Today Network (TVTN), a focused News broadcaster with a strong bouquet of four news channels, has maintained its leadership in the News Genre over seven consecutive years. Revamped Headlines Today, merger of Radio Today, flow of subscription Revenues and new channel launches would be the key drivers affecting the TVTN stock performance in the ensuing quarters. At the CMP of Rs 91, TVTN is trading at attractive valuations of 8.5x FY2010E Earnings making it the cheapest stock in the Broadcasting space. Moreover, we believe the company's recent buyback announcement would lend downside support to the stock. We Initiate Coverage on the stock, with a buy recommendation and target price of Rs 117," says Angel Broking's report.
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