Buy Bharti Airtel target of Rs 540: Sharekhan
Sharekhan is bullish on Bharti Airtel has recommended buy rating on the stock with a target price of Rs 540 in its research report dated December 02, 2019.
December 03, 2019 / 03:51 PM IST
Sharekhan's research report on Bharti Airtel
Bharti has announced to increase tariffs of its prepaid services by 15-50%; the quantum is higher than expectations. RJio has indicated that it will take tentative price hike of 40% and will provide 300% more benefits; RJio’s decision to increase tariff is positive for the industry. With a blended ARPU improvement of 20-23%, we expect an EBITDA increase of ~Rs. 3,300 crore and ~Rs. 8,500 crore in FY2020E and FY2021E, respectively, and increase in fair value.
We maintain our Buy rating on Bharti Airtel (Bharti) with a revised PT of Rs. 540.
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