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Hold Sun TV Network: target of Rs 545: ICICI Direct

ICICI Direct recommended hold rating on Sun TV Network with a target price of Rs 545 in its research report dated August 16, 2021.

August 19, 2021 / 12:43 PM IST
 
 
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ICICI Direct's research report on Sun TV Network


Sun TV Network (Sun TV) is a leading regional broadcaster in India, which owns and operates a bouquet of 32 TV channels prominently across southern market (Tamil, Telugu, Kannada & Malayalam) and Bengali language and also an OTT app SunNXT. In its key market, Tamil viewership share has dipped from ~55%+ to ~40%+ in last few years, with peers, new entrants lapping up market share


Outlook


We maintain our HOLD rating We value Sun at Rs 545 i.e. 12x FY23E EV/EBITDA


For all recommendations report, click here


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first published: Aug 19, 2021 12:43 pm

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