Goldman ups Dish TV stock to 'buy'

Oct 21 2011, 10:00 IST
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SummaryGoldman Sachs has upgraded Dish TV to 'buy' from 'neutral'.

Rating agency Goldman Sachs has upgraded Dish TV stock to 'buy' from 'neutral' with a target price of Rs 95 as it believes that the company is well placed to show a cumulative average growth rate of 30 percent and 64 percent in revenues and operational profit, respectively, over FY11-14.

We estimate Dish to turn net profit positive in (Q3) FY12 and (free cash flow) positive in (Q1) FY13. In addition, faster-than-expected migration from analog to digital platform and better-than-expected market share of DTH/Dish could lead to upside risk to our estimates, said Goldman Sachs.

It also believes consensus has not yet discounted the turnaround in earnings due to mandatory digitisation and improving margins.

At 9:39 a.m., Dish TV stock was trading at 77.2 rupees, up 1.5 percent.

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