Motilal Oswal is bullish on Idea Cellular has recommended Buy rating on the stock with a target price of Rs 110 in its research report dated July 28, 2017.
Motilal Oswal's research report on Idea Cellular
Marred by disruption in the sector over the last two quarters, Idea’s revenue for 1QFY18 came in flat QoQ (-14% YoY) a t I NR81.7b.Recovery in voice revenue growth to 2% QoQ (toINR61b) was offset by data revenue decline of 7 % QoQ (to INR13.7b).
We maintain Buy with TP of I NR110 on 9 .5x FY19E EV/EBITDA. However, the merger, as well as its timelines, remains a key risk to our rating.
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