Bharti Airtel target price revised by Jefferies to Rs 675
Bharti Airtel target price: Airtel's 14 mn subscriber additions and 8% QoQ growth in Africa operations surprised positively. While market share gains are playing out, moderation in Jio's subscribers will likely delay tariff hikes. Post the MSCI related buying in February, in absence of tariff hikes, we see few positive catalysts. Jefferies raised their Bharti Airtel revenue and EBITDA forecasts by 7-9% to factor higher subscribers and maintain Hold with revised price target of Rs 675/share.
Jefferies raised their Bharti Airtel revenue and EBITDA forecasts by 7-9% to factor higher subscribers and maintain Hold with revised price target of Rs 675/share: Zee Business