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Hold TV Today Network; target of Rs 290: ICICI Direct

ICICI Direct recommended hold rating on TV Today Network with a target price of Rs 290 in its research report dated November 14, 2022.

November 24, 2022 / 03:55 PM IST
 
 
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ICICI Direct's research report on TV Today Network


TV Today Network (TV Today) is a leading news company engaged in broadcasting operations. Part of the India Today Group, the company operates mainly in three segments—digital, television and radio broadcasting. It has consistently maintained its leadership in the Hindi new segment across the last two decades.


Outlook


We downgrade from BUY to HOLD as ad spends outlook remains challenging in the near term. Soft ad momentum will also translate into margin softness, in our view. We value TV Today at Rs 290 i.e. 10x FY24E P/E


For all recommendations report, click here

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TV Today Network - 14 -11-2022 - icici
Broker Research
first published: Nov 24, 2022 03:55 pm