Moneycontrol Be a Pro
Get App
Last Updated : Jan 24, 2018 11:50 AM IST | Source: Moneycontrol.com

Hold HT Media; target of Rs 120: Centrum

Centrum is bullish on HT Media has recommended hold rating on the stock with a target price of Rs 120 in its research report dated January 15, 2018.

Broker Research @moneycontrolcom
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Centrum's research report on HT Media


We maintain our Hold rating on HT Media and revise our TP to Rs120 as we continue to value the company on our conservative Adj. OCF/EV yield based methodology and introduce FY20 estimates. We expect the ad growth to bounce back in FY19 as Q4FY18 could also be impacted due to high base of UP elections. Further we believe the worst is behind the circulation revenue decline as the company has started to take price hikes due increase in newsprint prices.

Outlook

We maintain our hold rating with revised TP of Rs120 as we value the company on an adjusted OCF to EV yield based methodology, taking its account five year average cash flows. Key upside risk is stronger than expected ad growth while downside risk being increase in newsprint cost.

For all recommendations report, click here


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



Are you happy with your current monthly income? Do you know you can double it without working extra hours or asking for a raise? Rahul Shah, one of the India's leading expert on wealth building, has created a strategy which makes it possible... in just a short few years. You can know his secrets in his FREE video series airing between 12th to 17th December. You can reserve your free seat here.
First Published on Jan 15, 2018 06:44 pm
Loading...
Follow us on
Available On