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ZEEL Consensus Forecast

No. of reports in last year
15
No. of analysts
5
Average Consensus Forecast
375.27
Consensus Potential
37.81%

ZEEL Price Target Potential

BrokerageTargetPotential
Sharekhan40042.55%
Prabhudas Lilladher41344.36%
Motilal Oswal42545.93%
Edelweiss42846.31%
ICICIdirect.com33030.36%

ZEEL Ratings

Long term ZEEL rating by FrontPage users
4.2/5 (10 Ratings)

15 ZEEL share price target reports by brokerages below. See what is analyst's view on ZEEL share price forecast, rating, estimates, valuation and prediction behind the target. You may use these research report forecasts for long-term to medium term for your investment or trades in 2020.
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ZEEL Share Price Target

ZEEL Share Price Target - Broker Reports - 2022

Price @ Call: 285
7-Apr-22
Target: 400
BUY
Price @ Call: 293
3-Feb-22
Target: 413
BUY
Price @ Call: 321
10-Jan-22
Target: 416
BUY

ZEEL Share Price Target - Broker Reports - 2021

Price @ Call: 349
22-Dec-21
Target: 415
BUY
Price @ Call: 349
22-Dec-21
Target: 425
BUY
Price @ Call: 349
22-Dec-21
Target: 400
BUY
Price @ Call: 351
9-Dec-21
Target: 428
BUY
Price @ Call: 314
11-Nov-21
Target: 335
NEUTRAL
Price @ Call: 314
12-Nov-21
Target: 330
HOLD
Price @ Call: 314
12-Nov-21
Target: 399
BUY
Price @ Call: 318
23-Sep-21
Target: 405
BUY
Price @ Call: 337
22-Sep-21
Target: 320
NEUTRAL
Price @ Call: 337
23-Sep-21
Target: 330
HOLD
Price @ Call: 256
15-Sep-21
Target: 303
BUY
Price @ Call: 256
15-Sep-21
Target: 310
BUY
Price @ Call: 190.7
21-May-21
Target: 278
BUY
Price @ Call: 211.5
5-Jan-21
Target: 290
BUY

ZEEL Share Price Target - Broker Reports - 2020

Price @ Call: 184.9
13-Oct-20
Target: 220
BUY
Price @ Call: 133.05
13-Apr-20
Target: 150
HOLD
One of the key advantages of broadcasters has been stronger balance sheets, which is a paramount factor under current situation. The stock prices have also corrected sharply across the board. We now upgrade Sun TV to BUY, valuing it at 10x FY22 EPS at | 410/share. We also maintain BUY rating on TV Today with a revised target price of | 250/share (8x FY22 EPS). We downgrade Zee to HOLD with a revised target price of | 150/share (8x FY22 EPS). Lower multiple and downgrade for Zee is on account of continued pressure on receivables, related party dues and now decision of investment of | 522 crore over time in its subsidiary, Margo Networks (SugarBox) on which we still await clarity. Negative news flows on promoter group also remain an overhang.
... Read more
Price @ Call: 300.25
23-Jan-20
Target: 345
BUY
We note that near term concerns include relatively softer ad outlook as well as impact of NTO 2. However, the overhang of pledge led uncertainty is now over and the company’s intent on improving corporate governance through board reconstitution (by FY21 end) will drive investor confidence. The stock has corrected ~15% since our last update. With a possible recovery in FY21 on low base, we upgrade our rating from HOLD to BUY, with a revised target price of Rs 345/share, valuing it at 18x FY21 P/E.
... Read more

ZEEL Share Price Target - Broker Reports - 2019

Price @ Call: 251.89
18-Oct-19
Target: 220
REDUCE
Near term concerns like a softer ad outlook due to macroeconomic challenges, promoter pledge issues as well as possible risks of tweak in NTO policies makes us cautious. Furthermore, steep spending in content seems aggressive. We also remain wary of related party dues, given their weak financial position. We, therefore, downgrade the stock to REDUCE from HOLD earlier, with a revised target price of Rs 220/share, valuing it at 10x FY21 P/E. (vs. Rs 380/share at 18x FY21 P/E earlier). Lower multiple is on account of cash flow challenges and promoter debt issue.
... Read more
Price @ Call: 262
18-Oct-19
Target: 399
BUY
While we expect ZEE to gain in the new tariff regime, near-term ad growth is likely to be subdued. Though festive season could offer some respite, material growth is likely to resume once demand from FMCG, auto, among others, revives. In our view, though the valuation is attractive now, resolution of promoter’s pledged shares remains key trigger for the stock. We maintain our target PE of 18x and retain TP at INR399. The stock is trading at ~13x/12x FY20E/21E EPS. We maintain ‘BUY/SP’.
... Read more
Price @ Call: 348.66
1-Aug-19
Target: 380
HOLD
We had turned constructive with the possibility of a deal and complete removal of pledge, which did not play out. Furthermore, a stake sale to financial investors (vs. a global tech/media player) that could have added value in expanding its OTT reach, is another dampener, in our view. The overhang on the stock will remain as promoters grapple to sell a stake in non-media/media assets in a time bound manner. On the business front, steep and aggressive spending in content to enhance Zee5 offering, a necessary evil, is likely to keep FCF generation modest. We expect the stock price to hover below fair value till there is a complete removal of pledge. Therefore, we downgrade the stock to HOLD with target price of Rs 380/share, valuing it at 18x FY21E P/E.
... Read more
Price @ Call: 345.82
2-Aug-19
Target: 400
HOLD
Deal provides some relief but overhang stays; Maintain Hold:
The deal with Invesco Oppenheimer will provide some credibility to the stock along with retaining management’s control. We believe the streetmay be upset with ZEEL’s decision to go with the financial investor ratherthan a strategic investor who can take the company to the next level. The deal provides relief to the promoters’ liquidity concern to some extent, butthe overhang remains till the finalisation of other assets’ sale by the endof September 2019. Hence, we maintain our Hold rating on the stock with a revised PT of Rs. 400.
... Read more
Price @ Call: 403.95
29-Jul-19
Target: 444
BUY
We expect the company to continue performing well backed by strong growth in subscription revenue and resurgence of advertising business. Proposed stake sale also remains a key catalyst for the stock in the near-term. The stock is currently trading at 20.5x FY20E P/E. We roll forward to FY21E and value the stock at 20x FY21E adj. EPS. We rate the stock a BUY with a target price of Rs. 444.
... Read more
Price @ Call: 386.73
25-Jul-19
Target: 450
BUY
Driven by 46.8% y/y growth in domestic subscription revenue, Zee’s Q1 FY20 revenue grew 13.3% y/y to `20.08bn. Domestic advertising revenue grew 4.2% y/y, as 5-6% of advertising growth has been hit by the conversion of two FTA channels into pay channels. Lower other expenses due to good cost control (8.6% vs. 12.8% y/y) resulted in the margin expanding 93bps y/y to 32.9%. We cut our FY20e/FY21e EBITDA 4% and 5.5% respectively and our target multiple to 15x FY21e EBITDA (earlier valuing it at 17x FY21e EBITDA) to reflect soft ad growth and increased investment in OTT, resulting in a target of`450 (earlier `550). The promoter stake sale is a near-term catalyst.
... Read more
Price @ Call: 379.25
25-Jul-19
Target: 425
BUY
Signing of binding term sheet for stake sale with one of the bidder is a key positive. The company now expects another binding term sheet to be signed in a few days to zero in on a final buyer. On the other hand, steep and aggressive spending in content (largely to enhance Zee5 offering), in our view, is also a necessary evil that is likely to keep FCF generation modest. Given the certainty and proximity of deal, we upgrade to BUY with target price of | 425/share, valuing it at 20x FY21E P/E. However, we note that we would prefer strategic investors to buy the stake, which could enhance the overall prospect of Zee5 expansion globally.
... Read more
Price @ Call: 379.25
25-Jul-19
Target: 410
BUY
Valuation: reiterate Accumulate with a TP of INR 410 Management has guided for strong subscription revenue growth of over 20% YoY in FY20, which translates into a CQGR of 11% over Q2 onwards on a robust Q1 performance. Subscription revenue growth came as a pleasant surprise to us and on track faster than what we had anticipated, given robust growth in core viewership as regional genre channels witnessed strong pull demand. However, ad growth may take more time to revert to double-digit growth as Z has not reported major gains in viewership share within key genres. The stock is currently trading at 18x FY21E P/E, which is inexpensive, and this would prevail until further deal clarity emerges. Our estimates remain largely unchanged as positive impact of higher subscription was offset by negative impact of lower ad growth. We reiterate Accumulate with a March 2020E TP of INR 410 on 20x one-year forward P/E; we still believe a favorable deal indicates the promoter group hold on business strategy post the announcement will trigger a slight rerating.
... Read more
Price @ Call: 379.25
25-Jul-19
Target: 425
BUY
We witnessed a slowdown in ad revenues in Q1 mainly due to softness at its main client verticals. The impact of new tariff order as well led to this slowdown. On the other hand, subscription revenues zoomed on the new tariff order and FTA conversion. Digital business and further investments in TV and movies content is expected to follow post stake sale, which has been the overhang on the stock since last few quarters. We believe with management’s confidence to strike a deal shortly, the stock will gain a direction. With sound fundamentals, we maintain our BUY rating on the stock with a pruned down (based on lower ad revenues) TP of ₹425.
... Read more
Price @ Call: 360.95
24-Jul-19
Target: 408
ACCUMULATE
Zee’s superior execution, industry leading growth, margins, andviewership share deserve higher multiple. However, the sharp deterioration in its BS/FCF in FY17-19 and lag in the digital business are constraints. Improvement in FCF and acceleration in the digital business are vital triggers. Accumulate, with TP of Rs 408 at 20x FY21E EPS.
... Read more
Price @ Call: 435.25
22-Mar-19
Target: 556
BUY
At a CMP of Rs. 445.0, ZEEL stock is trading at a TTM P/E multiple of 28.4(x), which is at a discount compared to its peer average of 31.3(x). Company's top line and bottom line are expected to grow at a CAGR of 16.2% and 18.8% respectively over FY18-20E led by increase in monetization from growth in market share and rise in ARPU, better cost efficiencies, digital consolidation and increasing device penetration, among other factors. According to the FICCI-EY Report, 2018 the M&E industry is expected to grow at 11.3% CAGR over CY17-20E whereby television and digital media to grow at 9.3% and 23.5% respectively for the same period. ZEEL have outperformed the industry average and with its strong leadership position along with a beneficial strategic partner it is expected to outperform it further as well. We value the business at a TTM P/E multiple of 28.4(x) to its FY20E EPS, to arrive at a target price of Rs. 556.0, reflecting a potential upside of 25% over a period of 12- 18 months. Thus we assign a ‘BUY’ rating on the stock.
... Read more
Price @ Call: 319.35
28-Jan-19
Target: 500
BUY
Price @ Call: 456.7
16-Jan-19
Target: 500
HOLD
Price @ Call: 456.7
16-Jan-19
Target: 595
BUY
Price @ Call: 456.7
16-Jan-19
Target: 430
REDUCE
Price @ Call: 456.7
16-Jan-19
Target: 512
BUY
Price @ Call: 456.7
16-Jan-19
Target: 550
BUY

ZEEL Share Price Target - Broker Reports - 2018

Price @ Call: 462.14
20-Dec-18
Target: 581
BUY
Price @ Call: 478.5
12-Dec-18
Target: 530
BUY
Price @ Call: 490.72
30-Nov-18
Target: 550
BUY
Price @ Call: 439.17
15-Nov-18
Target: 487
BUY
Price @ Call: 442.45
16-Nov-18
Target: 525
BUY
Price @ Call: 446.3
23-Oct-18
Target: 530
BUY
Price @ Call: 464.66
11-Oct-18
Target: 573
BUY
Price @ Call: 464.66
11-Oct-18
Target: 585
BUY
Price @ Call: 472.51
13-Oct-18
Target: 599
BUY
Price @ Call: 472.51
12-Oct-18
Target: 540
BUY
Price @ Call: 464.66
11-Oct-18
Target: 622
BUY
Price @ Call: 459.2
11-Oct-18
Target: 560
BUY
Price @ Call: 459.2
11-Oct-18
Target: 600
BUY
Price @ Call: 468.6
10-Sep-18
Target: 560
BUY
Price @ Call: 521
19-Jul-18
Target: 651
BUY
Price @ Call: 517.3
18-Jul-18
Target: 632
BUY
Price @ Call: 517.3
18-Jul-18
Target: 600
BUY
Price @ Call: 517.3
18-Jul-18
Target: 620
BUY
Price @ Call: 517.3
18-Jul-18
Target: 610
HOLD
Price @ Call: 517.3
18-Jul-18
Target: 610
BUY
Price @ Call: 517.3
18-Jul-18
Target: 680
BUY
Price @ Call: 517.3
18-Jul-18
Target: 700
BUY
Price @ Call: 539
3-Jul-18
Target: 680
BUY
Price @ Call: 593.4
10-May-18
Target: 620
NEUTRAL
Price @ Call: 593.4
10-May-18
Target: 610
HOLD
Price @ Call: 591.08
11-May-18
Target: 642
BUY
Price @ Call: 589
11-May-18
Target: 687
BUY
Price @ Call: 589
11-May-18
Target: 623
ACCUMULATE
Price @ Call: 592.65
10-May-18
Target: 680
BUY
Price @ Call: 584.31
5-Apr-18
Target: 680
BUY
Price @ Call: 575.05
16-Feb-18
Target: 705
BUY
Price @ Call: 611.1
29-Jan-18
Target: 670
BUY
Price @ Call: 592.95
18-Jan-18
Target: 678
BUY
Price @ Call: 592.95
18-Jan-18
Target: 715
BUY
Price @ Call: 592.95
18-Jan-18
Target: 640
HOLD
Price @ Call: 592.95
18-Jan-18
Target: 705
BUY

ZEEL Share Price Target - Broker Reports - 2017

Price @ Call: 569.9
14-Dec-17
Target: 690
BUY
Price @ Call: 541.7
30-Oct-17
Target: 589
BUY
Price @ Call: 540.28
27-Oct-17
Target: 550
HOLD
Price @ Call: 540.28
27-Oct-17
Target: 575
BUY
Price @ Call: 525.5
25-Oct-17
Target: 608
BUY
Price @ Call: 525.5
25-Oct-17
Target: 630
BUY
Price @ Call: 525.5
25-Oct-17
Target: 565
HOLD
Price @ Call: 526.92
9-Oct-17
Target: 630
BUY
Price @ Call: 544
19-Sep-17
Target: 603
ADD
Price @ Call: 522.59
3-Sep-17
Target: 610
BUY
Price @ Call: 529.45
27-Jul-17
Target: 610
BUY
Price @ Call: 540
25-Jul-17
Target: 580
HOLD
Price @ Call: 552
24-Jul-17
Target: 585
BUY
Price @ Call: 484.65
29-Jun-17
Target: 570
BUY
Price @ Call: 526
16-May-17
Target: 592
BUY
Price @ Call: 516
10-May-17
Target: 600
BUY
Price @ Call: 516
11-May-17
Target: 568
BUY
Price @ Call: 516
10-May-17
Target: 591
BUY
Price @ Call: 480
24-Jan-17
Target: 600
BUY
Price @ Call: 479
25-Jan-17
Target: 583
BUY
Price @ Call: 479
24-Jan-17
Target: 530
BUY
Price @ Call: 482.95
24-Jan-17
Target: 560
BUY
Price @ Call: 479
24-Jan-17
Target: 588
BUY

ZEEL Share Price Target - Broker Reports - 2016

Price @ Call: 437
11-May-16
Target: 480
BUY
Price @ Call: 421.2
11-May-16
Target: 440
HOLD
Price @ Call: 440
24-Nov-16
Target: 530
BUY
Price @ Call: 444.5
24-Nov-16
Target: 610
BUY
Price @ Call: 514
25-Oct-16
Target: 520
HOLD
Price @ Call: 515
26-Oct-16
Target: 530
HOLD
Price @ Call: 515.54
25-Oct-16
Target: 603
BUY
Price @ Call: 515.15
26-Oct-16
Target: 572
BUY
Price @ Call: 525
23-Sep-16
Target: 610
BUY
Price @ Call: 535
1-Sep-16
Target: 610
BUY
Price @ Call: 534.15
2-Sep-16
Target: 550
BUY
Price @ Call: 539.65
1-Sep-16
Target: 583
HOLD
Price @ Call: 482.05
27-Jul-16
Target: 510
BUY
Price @ Call: 462
7-Jul-16
Target: 500
HOLD
Price @ Call: 440.66
27-Jun-16
Target: 540
BUY
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  • ZEEL Share Price Target Today- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3253.12
    Upside Target 2246.03
    Upside Target 1241.72
    Pivot234.63
    Downside Target 1230.32
    Downside Target 2223.23
    Downside Target 3218.92
  • ZEEL Share Price Target weekly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3268.47
    Upside Target 2256.23
    Upside Target 1246.82
    Pivot234.58
    Downside Target 1225.17
    Downside Target 2212.93
    Downside Target 3203.52
  • ZEEL Share Price Target monthly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3350.6
    Upside Target 2329.65
    Upside Target 1288.9
    Pivot267.95
    Downside Target 1227.2
    Downside Target 2206.25
    Downside Target 3165.5
  • ZEEL Share Price Target today- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3246.03
    Upside Target 2241.68
    Upside Target 1238.99
    Pivot234.63
    Downside Target 1230.28
    Downside Target 2227.59
    Downside Target 3223.23
  • ZEEL Share Price Target weekly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3256.23
    Upside Target 2247.96
    Upside Target 1242.85
    Pivot234.58
    Downside Target 1226.31
    Downside Target 2221.2
    Downside Target 3212.93
  • ZEEL Share Price Target monthly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3329.65
    Upside Target 2306.08
    Upside Target 1291.52
    Pivot267.95
    Downside Target 1244.38
    Downside Target 2229.82
    Downside Target 3206.25
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
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