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Buy TV Today Network; target of Rs 375: ICICI Direct

ICICI Direct is bullish on TV Today Network has recommended buy rating on the stock with a target price of Rs 375 in its research report dated May 16, 2022.

May 16, 2022 / 04:44 PM IST
 
 
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ICICI Direct's research report on TV Today Network


TV Today Network (TV Today) is leading news company engaged in broadcasting operations. Part of the India Today Group, the company operates mainly in three segments—digital, television and radio broadcasting. It has consistently maintained its leadership in Hindi new segment across the last two decades.


Outlook


We upgrade from HOLD to BUY post sharp decline of 33% in last month. We believe that with stable double digit growth, healthy return ratio and operating leverage, current valuations (at 7.4x FY24 P/E) provide a margin of safety. We value TV Today at Rs 375 i.e. 10x FY24E P/E.


For all recommendations report, click here

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first published: May 16, 2022 04:44 pm
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