Sharekhan is bullish on Bharti Airtel has recommended buy rating on the stock with a target price of Rs 350 in its research report dated May 07, 2019.
Sharekhan's research report on Bharti Airtel
Despite steep dilution, recent fund-raising plan through rights issue would allow Airtel to de-leverage its balance sheet by bringing down net debt/EBITDA to 3.1x from 4.4x. Africa IPO and divestment of tower business stake to reduce debt level and participate in the upcoming spectrum auction. India wireless revenue and EBITDA beat estimates; DTH business performs well despite uncertainty around new tariff order implementation.
We maintain Buy on Bharti Airtel with a PT of Rs. 350, considering its resilient performance in terms of market share in a tough environment.
For all recommendations report, click here
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