Sun TV Network Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for SUNTV, BSE:532733 Sun TV Network Ltd.

Sun TV Network Ltd.

08 Nov 2021, 12:00AM

570.50

-2.27%

Healthy recovery in place; investments in OTT hold key

Buy: Sun TV Network Ltd.

Target

Motilal Oswal

Sun TV (SUNTV) reported in-line nos revenue/PAT was up 10%/14% YoY, with ad revenues reaching pre-pandemic (2QFY20) levels and delayed benefit from the IPL offering spillover. This was offset by a sluggish subscription revenue run-rate. Our FY23E/FY24E estimates are largely maintained; we build in a 6% CAGR over FY2023E. The recent upbeat valuation for the new IPL team auction makes the stock valuation compelling at below 10x on Sept'23E. Along with intensifying content investments to win market share, this is a...

Sun TV Network Ltd. is trading above its 50 day SMA of 561.5

Sun TV Network Ltd.

16 Aug 2021

570.50

-2.27%

Sun TV Network

Hold: Sun TV Network Ltd.

Target

ICICI Securities Limited

Revenues (ex- IPL) at | 686 crore were up ~13% YoY, down ~12% QoQ, with ad revenues up ~94% YoY to | 244 crore, on a depressed base of Q1FY21 but down 23% QoQ (still ~34% below pre-Covid levels)....

Sun TV Network Ltd. has an average target of 747.50 from 2 brokers.

Sun TV Network Ltd.

14 Aug 2021

570.50

-2.27%

A gradual recovery in progress; intensifies content investment

Buy: Sun TV Network Ltd.

Motilal Oswal

Revenue rose 34% YoY to INR8.1b (6% miss) in 1QY22, on a low base of last year that saw a stringent COVID-led lockdown and absence of IPL. Advertising/subscription revenue increased by 95%/-6% YoY. Revenue was, however, lower by 25% v/s pre-COVID levels (1QFY20). EBITDA stood at INR4.9b, up 18.8% YoY (11% miss), aided by a strong growth in revenue, but partly offset by increased opex (66% YoY,...

Sun TV Network Ltd. is trading below its 100 day SMA of 583.8

Sun TV Network Ltd.

14 Aug 2021

570.50

-2.27%

SUN TV NETWORK - Recovery in Ad revenues, new movie releases remain key to performance in ensuing quarters

Buy: Sun TV Network Ltd.

Target

LKP Securities

Recovery in Ad revenues, new movie releases remain key to performance in ensuing quarters Sun TV's Q1 FY22 numbers came slightly below our expectations as Ad revenues declined by 22.5% qoq, while growing 93.7% yoy on an extremely low base of last year same quarter. The sequential fall was on the back of re-emergence of Covid Wave#2 in the quarter as advertisers reduced their ad spends. Even due to absence of any movie releases, the advertising revenues...

Sun TV Network Ltd. is trading below its 100 day SMA of 583.8

Sun TV Network Ltd.

12 Jun 2021

570.50

-2.27%

Sharp cost savings in a weak environment aid earnings

Buy: Sun TV Network Ltd.

Target

Motilal Oswal

Production costs were up 23% YoY on the low base of 4QFY20. However, tight cost measures in employee/SG&A; (down 8%/17%) kept the overall operating cost flattish (up just 1.5%). EBITDA subsequently improved 9% YoY to INR5.5b (in-line); EBITDA margins stood at 69.9% (up 140bps YoY). Net profits were flattish (up 2% YoY) at INR4.5b (6% above estimate) on...

Sun TV Network Ltd. has lost -28.60% in the last 1 Year

Sun TV Network Ltd.

12 Jun 2021

570.50

-2.27%

Sun TV Network

Hold: Sun TV Network Ltd.

Target

ICICI Securities Limited

Sun TV, in its key market of Tamil, has improved its prime time fiction market share from 37% to 42% in the last three quarters, albeit it remains well below that earlier levels. The company envisages to take it to 50% in the medium term. Sun TV also intends to launch five to six shows including two big ticket shows (with total spend of | 50 crore for both shows) in Telugu and Malayalam in Q1FY22, which were delayed due to second wave that halted shootings. We expect the overall impact of the second wave and higher presence of local ad to push back ad revenue recovery. Furthermore,...

Sun TV Network Ltd. is trading above its 50 day SMA of 561.5

Sun TV Network Ltd.

09 Feb 2021, 12:00AM

570.50

-2.27%

Sun TV Network

Hold: Sun TV Network Ltd.

Target

ICICI Securities Limited

Delay in local retail revival leads to ad revenues decline Ad revenues have improved sequentially in unlock phases aided by festive boost. However, the decline was due to weakness in local retail sectors like jewellery, garments and other key retail clients while FMCG remains the biggest contributor. Currently, retail advertisers contribute only 10-12% of ad mix vs. 30% earlier and rebound in ad spend across all segments will be important. No fresh movie premiers also partly contributed to lower ad revenue. Ad minutes/hour was 12 during Q3 vs. pre-Covid levels of 16 (has...

Sun TV Network Ltd. has lost -28.60% in the last 1 Year

Sun TV Network Ltd.

08 Feb 2021, 12:00AM

570.50

-2.27%

Sun TV Network - Recovery in Ad revenues, new movie releases to lift up FY22 performance

Buy: Sun TV Network Ltd.

Target

LKP Securities

Recovery in Ad revenues, new movie releases to lift up FY22 performance Q3 core businesses disappoint, numbers up due to IPL Sun TV's Q3 FY21 numbers came slightly below our expectations as Ad revenues declined by 10.7% yoy, while growing sequentially by 26% in a festive quarter. The sequential growth was on the back of opening of economy, normalcy coming back and advertisers increasing their Ad spend, however there was a yoy fall in advertisements from retail advertisers, local jewellers as demand for their products is still not fully recovered due to pandemic. Also due to absence of any movie releases, the advertising revenues have bore the brunt. Additionally there has been some market share loss in its...

Sun TV Network Ltd. has an average target of 747.50 from 2 brokers.

Sun TV Network Ltd.

28 Dec 2020

570.50

-2.27%

Management Meet Update - Revamping OTT plan key to re-rating - Not Rated

Not Rated: Sun TV Network Ltd.

Prabhudas Lilladhar

In our interaction, management of Sun TV highlighted 1) plans to spend Rs2bn towards Sun NXT (OTT offering) and Rs3-4bn towards producing 8 new movies which are scheduled to release in next 12 months (release timeline can be delayed due to second strain of COVID) 2) IPL is likely to yield pretax profits of ~Rs1.2bn/Rs1.3-1.4bn in FY21/FY22 respectively and 3) pressure...

Sun TV Network Ltd. has lost -28.60% in the last 1 Year

Sun TV Network Ltd.

13 Nov 2020

570.50

-2.27%

Sun TV Network

Hold: Sun TV Network Ltd.

Recommendation Target

ICICI Securities Limited

The subdued ad outlook in the near term affects growth prospects of Sun TV. Flagship channel saw dip in viewership post lockdown that does not bode well from ad rates/volume point of view. IPL profitability will also take a hit due to shift of venue, reduced sponsorship, etc. Hence, we downgrade the stock to HOLD. We would turn constructive when we witness SunNXT ramp-up, viewership share increase coupled with sustained ad recovery. We...

Sun TV Network Ltd. is trading above its 50 day SMA of 561.5

Is Sun TV Network Ltd. worth buying?

412 Votes:

Buy 80.83%

Sell 13.11%

Hold 6.07%

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