Brokers’ picks: Sun TV, Hero
In FY14E, Hero expects to grow at least in-line with the industry. We factor in 2.7% growth.
By ET Bureau | Updated:
Citi Upgrades Sun TV to ‘Buy’
TARGET: Rs 490
CURRENT PRICE: Rs 374.35
Its dominant South Indian TV broadcasting business and successful free commercial time (FCT) model ensure high net margins (~35-40%) and return ratios (RoEs of ~25-30%).s.
Further, with ongoing digitalization, headroom for gains on subscription revenues are fairly high for a strong player like Sun, especially from digital cable.
Jefferies Retains ‘Buy’ on Hero
TARGET: Rs 2,400
CURRENT PRICE: Rs 1,902.60
Hero has made a strong comeback in recent months on strength of its strong brands and distribution.
Hero has benefited from stronger rural demand – and beneficial impact of the warranty scheme. In FY14E, Hero expects to grow at least in-line with the industry. We factor in 2.7% growth.
TARGET: Rs 490
CURRENT PRICE: Rs 374.35
Its dominant South Indian TV broadcasting business and successful free commercial time (FCT) model ensure high net margins (~35-40%) and return ratios (RoEs of ~25-30%).s.
Further, with ongoing digitalization, headroom for gains on subscription revenues are fairly high for a strong player like Sun, especially from digital cable.
Jefferies Retains ‘Buy’ on Hero
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TARGET: Rs 2,400
CURRENT PRICE: Rs 1,902.60
Hero has made a strong comeback in recent months on strength of its strong brands and distribution.
Hero has benefited from stronger rural demand – and beneficial impact of the warranty scheme. In FY14E, Hero expects to grow at least in-line with the industry. We factor in 2.7% growth.
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