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Bharti Airtel up after CLSA initiates coverage with 'buy', expects 30% upside

The global research firm has initiated buy call on the telecom stock and has raised target to Rs 1,040 per share, an upside of 30 percent from current market price,

January 09, 2023 / 10:12 AM IST
Bharti Airtel

Bharti Airtel

 
 
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Bharti Airtel's share price edged higher in the morning session on January 9 after CLSA initiated buy call on the stock. The global research firm has initiated buy call on the telecom stock and has raised target to Rs 1,040 per share, an upside of 30 percent from current market price, according to a CNBC-TV18 report.

At 09:35 am, Bharti Airtel was trading at Rs 812.75, up Rs 16.15, or 2.03 percent on BSE. It has touched an intraday high of Rs 813.50 and an intraday low of Rs 801.30.

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The brokerage firm believes Bharti Airtel is the best play on India mobile amid hefty operating cashflows and rising Return on Capital Employed (RoCE). It forecasts Bharti Airtel to record 16 percent/22 percent India mobile revenue/EBITDA CAGR by FY25.