Dalmia Securities is bullish on Eros International Media has recommended buy rating on the stock with a target price of Rs 101 in its research report dated October 29, 2018.
Dalmia Securities's research report on Eros International Media
Eros International Media Ltd (Eros) was established in 1994 and is the Indian subsid-iary of the NYSE listed Eros International Plc (Eros Plc). Eros has over the years built up a 2000+ Film Library across various genres, generations and languages like Hindi, Tamil, Telugu, Kannada, Marathi, Bengali, Malayalam and Punjabi. Eros delivers strong Q2 FY19 results post weak Q1 FY19 numbers; PAT margins expand on the back of other income.
At CMP, the share is trading at EV/EBITDA of 2.0x and PE of 2.0x FY20E EPS. Cur-rently, stock is trading at ~78% discount to 5 year average PE. We recommend a BUY on Eros with a target price of INR 101, based on 3x FY20E EPS implying 41% return from current levels.
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