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