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Buy Zee Entertainment Enterprises: target of Rs 310: Sharekhan

Sharekhan is bullish on Zee Entertainment Enterprises has recommended buy rating on the stock with a target price of Rs 310 in its research report dated September 15, 2021.

September 16, 2021 / 02:24 PM IST
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Sharekhan's research report on Zee Entertainment Enterprises

The largest shareholder of ZEE Entertainment Limited (ZEEL), Invesco demanded a reconstitution of the board, with the removal of three directors and appointment of six independent directors. We believe shareholder activism would be a key re-rating trigger as this could alter the board/management, increase in cash conversion and improve efficiency of capital allocation. FY2021 free cash flow of Rs. 1,342 crore stood at 75% of EBITDA, implying a strong improvement in cash conversion over previous years. We expect earnings to report an 18% CAGR over FY2021-FY2024E.


We maintain a Buy on the stock with a revised PT of Rs. 310, given reasonable valuations and expectations of improvement of corporate governance standards.

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: Sep 16, 2021 02:24 pm

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