“Our media coverage/businesses are resilient and are not only seeing a rapid recovery in revenues, cost savings but are backed by strong, zero-debt, net-cash balance sheets,” said CLSA.
Synopsis
“Our media coverage/businesses are resilient and are not only seeing a rapid recovery in revenues, cost savings but are backed by strong, zero-debt, net-cash balance sheets,” said CLSA.
Mumbai: CLSA has raised its share price targets on media companies citing a rapid recovery in advertising revenues post Covid-19. The price targets, which have been increased in the range of 3 per cent to 80 per cent, could fetch returns between 24 per cent and 60 per cent in these stocks.“Zee and Sun ad recovery are at 80 per cent of pre-Covid-19 levels, while Hindi print media companies DB Corp and Jagran led by non-metro presence are seeing a
ET Bureau
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