Sharekhan recommended is bullish on Zee Entertainment Enterprises has recommended buy rating on the stock with a target price of Rs 550 in its research report dated January 15, 2019.
Sharekhan's research report on Zee Entertainment Enterprises
ZEEL delivered strong revenue growth of 17.9% y-o-y in Q3FY2019, led by healthy growth in domestic ad and subscription revenue. EBITDA margin stood at 34.8%, ahead of our estimates, led by strong performance in its traditional business. Given leading TV viewership share, ZEEL is best placed to leverage double-digit growth in TV ad spending, monetisation of phase 3 and 4 markets and TRAI’s new subscription regime.
We maintain our Buy rating on Zee Entertainment Enterprises Limited (ZEEL) with an unchanged price target of Rs. 550.
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