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Slideshow: 6 downgrades that punctured Bharti
Thu, Aug 23, 2012 at 13:02
Credit Suisse on Wednesday downgraded Bharti to 'underperform' from 'neutral' while cutting its target price to Rs 220. The firm said that with Reliance Infotel planning to enter the wireless voice market, there is a significant risk to the telecom industry's business model. The global financial services firm also said there will be increasing competition in the segment. “Despite the recent correction in Bharti’s stock price, we believe risks from key events over the next 12 months are not fully understood or appreciated by the Street. In particular, the 2G spectrum auction over the next four to six months and Reliance Infotel’s launch over the next 12 months pose significant risks to the business models of incumbent telcos,” it said in its report dated August 21.