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Buy DB Corp; target of Rs 368: Centrum

Centrum is bullish on DB Corp has recommended buy rating on the stock with a target price of Rs368 in its research report dated May 17, 2018.

May 23, 2018 / 04:21 PM IST
 
 
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Centrum's research report on DB Corp


We believe the ad growth for the company in FY19E would be back ended driven by volumes and uptick in selective categories. Further the company would benefit in medium term as the increase in circulation would translate into readership leading to ad yield increase.

Outlook

We maintain BUY rating on the stock, with a revised TP of Rs368 as we value the company on adjusted OCF (AOCF = OCF – Interest) to EV yield based on five year average cash flows. Key downside risks being pressure on ad growth and sustained increase in newsprint cost.

For all recommendations report, click here


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Broker Research
first published: May 23, 2018 04:21 pm

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