Sharekhan is bullish on Bharti Airtel has recommended buy rating on the stock with a target price of Rs 710 in its research report dated July 30, 2020.
Sharekhan's research repor on Bharti Airtel
Broadly in-line performance, while net loss widened owing to incremental provision for the AGR dues; ARPU surprised positively despite challenges; data traction remained strong. ARPU would continue to improve on the back of continued up-gradation from 2G to 4G, increasing post-paid subscribers and segmentation price hike for the premium users. EBITDA is expected to grow at a CAGR of 24% over FY20-FY22E. We remain positive on Bharti, considering its steady EBITDA performance, scope for growth in the number of 4G subscribers and improving free cash flows. Further, we believe that the valuation gap with Reliance Jio is set to narrow down further.
We maintain our Buy rating on Bharti Airtel with a revised price target (PT) of Rs. 710.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.