JP Morgan upgrades rating on Zee Entertainment

Описание: JP Morgan upgraded it’s rating on Zee Entertainment to an overweight stance with target set at Rs. 320/share. Here are the key highlights and the rationale for the upgrade
• Upgrade to Overweight , Target at `320/share
• Upgrade Zee to Overweight with a new Sep-22 target price of `320
• Stock performance in past constrained by subdued operational perforamnce
• Presence of a principal activist shareholder to help alleviate governance concerns
• Board reconstitution by largest shareholder may result in strategic operational changes
• Stock can move towards normative valuation levels
• Upside risk could also emerge from potential strategic investor
• Better execution for broadcasting business is the key
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