Buy DB Corp with a target of Rs 443: CLSA

CLSA has a buy call on DB Corp Ltd. with a target price of Rs 443 . The current market price of DB Corp Ltd. is Rs 369.95 . Time period given by analyst is year when DB Corp Ltd. price can reach the defined target.
The DB Corp management is confident of non-English print biz growing ad revenues in double digits post demonetisation. Demonetisation has hit ad revenues but impact expected to normalise by end-4QFY17. The management focussed on increasing circulation revenues, ramping up radio and digital business. DB Corp offers 15% earnings CAGR over FY17-19CL.