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In a report published Monday, Deutsche Bank analyst Doug Mitchelson initiated coverage on
Eros International PLCEROS with a Buy rating and $20.00 price target.
In the report, Deutsche Bank noted, “Eros should report very strong growth due to India GDP growing rapidly, media in India growing faster than GDP (leisure spending growth disproportionately in media, all-digital TV transition, improving internet access), and Eros growing faster than media (film ramp; leveraging new distribution windows). We forecast FY14-FY18 Rev and EBITDA CAGRs of 15% and 18%, respectively, vs. a 6x CY14E EV/EBITDA mult (80% faster growth than U.S. media but trading 40% below). Also, Eros benefits from a history of innovation and leading scale, and could benefit from further U.S. media interest, given Fox, DIS, Sony and VIAB have built or bought India businesses.”
Eros International PLC closed on Friday at $10.90.
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