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Buy Bharti Airtel; target of Rs 910: Motilal Oswal

Motilal Oswal is bullish on Bharti Airtel has recommended buy rating on the stock with a target price of Rs 910 in its research report dated June 28, 2022.

June 29, 2022 / 04:25 PM IST

Motilal Oswal's research report on Bharti Airtel


Over the last couple of years, though Bharti’s operational performance has been strong, it has lagged in FCF generation and deleveraging that has posed a key concern for the stock. FCF is a key factor in telecom business as technology upgradation continually keeps capex intensity high. However, we believe despite the upcoming investments in 5G, Bharti is witnessing a decadal shift in its FCF generation capability that could translate into healthy deleveraging.


Outlook


We maintain our BUY rating on the stock with a TP of INR910.


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At 16:01 hrs Bharti Airtel was quoting at Rs 684.30, up Rs 3.30, or 0.48 percent.


It has touched an intraday high of Rs 689.00 and an intraday low of Rs 676.20.


It was trading with volumes of 53,292 shares, compared to its thirty day average of 199,779 shares, a decrease of -73.32 percent.


In the previous trading session, the share closed down 0.57 percent or Rs 3.90 at Rs 681.00.


The share touched its 52-week high Rs 781.90 and 52-week low Rs 510.33 on 24 November, 2021 and 02 July, 2021, respectively.


Currently, it is trading 12.48 percent below its 52-week high and 34.09 percent above its 52-week low.


Market capitalisation stands at Rs 382,530.49 crore.


For all recommendations report, click here


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first published: Jun 29, 2022 04:24 pm
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