Buy DB Corp with a target at Rs 386: CLSA

CLSA maintains buy on DB Corp post March quarter results and has also raised its 12-months target price to Rs 386 from Rs 382. The Ad growth is likely to climb back to double digits in FY17-18, said the CLSA note.

The company is seeing slower-than-expected acceptance of its increased ad rates. CLSA slashed FY17-18C earnings by 5%-7% on weak performance.