Budget 2021

Associate Partners:

  • SMC
  • Samsung
  • Volvo


Budget 2021

Associate Partners:

  • SMCSamsungVolvo
Webinar :Join an expert panel for a webinar on Smart investments for a secure retirement January 28, 2021. Register now!

Buy Zee Entertainment Enterprises; target of Rs 290: Prabhudas Lilladher

Prabhudas Lilladher is bullish on Zee Entertainment Enterprises has recommended buy rating on the stock with a target price of Rs 290 in its research report dated January 05, 2021.

January 14, 2021 / 08:55 PM IST
  • bselive
  • nselive
Todays L/H

Prabhudas Lilladher's research report on Zee Entertainment Enterprises

We initiate coverage on Zee Entertainment Enterprises Ltd (ZEEL) with a BUY rating amid 1) concrete steps taken to strengthen governance and enhance disclosure levels 2) consistent improvement in viewership share (increased from 11.6% in CY11 to 18.4% in CY19) and 3) likely emergence of ZEE5 as future growth engine in the changing global content consumption paradigm. We expect revenue CAGR of 4.1% over FY20-23E backed by increasing viewership share, launch of 4 regional channels (Zee Punjabi, Zee Thirai, Zee Picchar and Zee Bispoke), increasing viewership of HD channels (16 channels, 35% HD penetration) and selective price hikes. Adjusted EBITDA/PAT CAGR is expected to be at 3.5%/0.5% over FY20-23E on higher content cost related to new channels and ZEE5. We believe ZEE5 is one of the strongest content platforms and can be a major growth and re-rating driver in coming years.


Initiate BUY with a TP of Rs290 (16x FY23 EPS of Rs18). Non-core investments, related party transactions, contingent liabilities and accelerated inventory amortization are key risks to our call.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Jan 6, 2021 01:05 pm

stay updated

Get Daily News on your Browser