Citi maintains buy on Zee Entertainment and target of Rs 650

Shares of Zee Entertainment gained around half a percent intraday on Thursday. Global brokerage firm Citi has maintained a buy call on the stock with a target of Rs 650 apiece.

The management expects breadth of content to be the differentiator among other such service providers. Further, it said that the management also aims at growing ad revenues ahead of market.

It is expecting low-teen domestic subscription growth.

The stock has lost around 7 percent in the past one month, while in the past three days it has fallen over 3 percent. At 13:22 hrs Zee Entertainment Enterprises was quoting at Rs 566.55, up Rs 0.50, or 0.09 percent, on the BSE. It touched an intraday high of Rs 568.45 and an intraday low of Rs 560.80.