Buy Sun TV Network Ltd., target Rs 550.0 : Centrum Broking

Centrum Broking has Buy call on Sun TV Network Ltd. with a target price of Rs 550.0. The current market price of Sun TV Network Ltd. is 455.85. Time period given by analyst is year, when Sun TV Network Ltd. price can reach defined target. Centrum Equity Research said that despite a decline in ad revenues for the quarter, Sun TV network remains confident on about 10% ad growth for FY17 on improvement in rating for non-Tamil market. The brokerage said that the benefits of digitisation have started to flow into the system.