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Last Updated : Jan 16, 2019 01:49 PM IST | Source: Moneycontrol.com

Buy Zee Entertainment Enterprises; target of Rs 550: Sharekhan

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.

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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.


Outlook


We maintain our Buy rating on Zee Entertainment Enterprises Limited (ZEEL) with an unchanged price target of Rs. 550.


For all recommendations report, click here


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First Published on Jan 16, 2019 01:49 pm
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