Morgan Stanley cuts Idea target on lower forecast, guidance

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26 Aug, 2025 12:21

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Moneycontrol Bureau

Morgan Stanley has slashed target price of Idea Cellular to Rs 70 from Rs 89 earlier as it believes the share price will fall relative to the country index over the next 60 days.

This is because of lowered forecast/guidance, it says.

The brokerage house estimated that there is about a 70-80 percent (or very likely) probability for the scenario.

Idea's Q1FY17 was a tough quarter as EBITDA was 7 percent below the estimate.

Morgan Stanley has reduced FY17/18/19 EBITDA by 6 percent/11 percent/9 percent.Profit in Q1FY17 fell 36.1 percent to Rs 497.1 crore compared with Rs 777.8 crore in same period last year.

At 14:43 hours IST, the scrip of Idea Cellular was quoting at Rs 81.05, down Rs 1.40, or 1.70 percent on the BSE.