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Last Updated : Aug 04, 2020 07:48 AM IST | Source: Moneycontrol.com

Buy Bharti Airtel; target of Rs 710: Sharekhan

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.

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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.


Outlook


We maintain our Buy rating on Bharti Airtel with a revised price target (PT) of Rs. 710.


For all recommendations report, click here


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First Published on Aug 4, 2020 07:48 am
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