ZEEL
15.12.2021 - CLSA on Zeel - Maintain Buy - Cmp 372 Target 415
CLSA ON ZEE ENT : 21.05.2021
* MAINTAIN BUY TARGET: 306
* Zee Ent's Q4 ahead of estimates and ad revenue up 9% YOY, CLSA says
* Q4 Ahead Of Estimates And Ad Revenue Up 9% YoY
* Co Sees Rapid Recovery In Ad Revenue If Lockdowns Not Extended
* Balancesheet Cash Has Increased To 21,860 Cr From 1,000 Cr In FY20
* Risk-reward Attractive At Current Valuations
GS ON ZEE ENT : 21.05.2021
* MAINTAIN NEUTRAL TARGET: 208 (PREVIOUS TARGET: 225)
* Goldman Sachs forecasts a 5% FY20-25 revenue CAGR (8% FY21-25 CAGR) for Zee Ent after the media major announced its Q4 results yesterday
* Revenue Growth Of 1% YoY Is 7% Below Our Estimate
* Expect Growth Outlook For Zee To Stay Challenged
* Forecast A 5% FY20-25 Revenue CAGR (8% FY21-25 CAGR)
* Television Advertisement Will Continue To Lose Share To Digital
* Make 7-10% Cuts To Our EBITDA Estimates
UBS ON ZEE ENT : 21.05.2021
* MAINTAIN BUY TARGET: 250
* Healthy ad recovery by Zee Ent, but 2nd COVID wave could negatively impact FY22, UBS says
* Healthy Ad Recovery, But 2nd COVID Wave Could Negatively Impact FY22
* 'If Current Wave Does Not Go Into Q2, Double-digit Growth Is Achievable'
CLSA ON ZEE : 21.05.2021
* Maintain BUY, Target at Rs 306/share
* Q4 India ad revenue up 9% YoY
* Cash rises to Rs 1,860 cr & stock at 12x PE
* Resilient business and a compelling valuation; Zee to pull back investment in the 80%-owned SugarBox
