Clsa Sees India's Zee Entertainment Doubling In 12: 24 months

Zee Entertainment Enterprises

20/03/2025 06:54

** Zee Entertainment Enterprises ZEE.NS rises ~2.7% to 103 rupees after CLSA predicted stock would double in 12-24 months

** Says media company's valuation at rock bottom at forward 12-month PE of 8x after slump that followed failed Sony merger

** Adds growth in ad rev to drive stock's re-rating

** Estimates ZEE to deliver 33% profit CAGR in FY26 and FY27

** Says OTT streaming service ZEE5's ramp-up to aid recovery

** Adds correction in ZEE's shares "overdone"

** Retains "outperform" and PT of 170 rupees, implying a 65% upside

** Stock rated "hold" on avg; median PT is 133 rupees, per data compiled by LSEG

** YTD, ZEE down 15%

 (Reporting by Bharath Rajeswaran in Bengaluru)

 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))