Sharekhan is bullish on Bharti Airtel has recommended buy rating on the stock with a target price of Rs 610 in its research report dated February 05, 2019.
Sharekhan's research report on Bharti Airtel
Steady EBITDA performance, scope for growth in 4G subscribers and improving free cash flows make us optimistic on the stock. Revenue beat estimates, led by tariff hikes in Q3; EBITDA margin remained in line with our estimates. Given higher consumption of data and recent developments in Indian wireless industry, we believe that the company would hike tariffs again in 12-18 months.
Outlook
We maintain our Buy rating on Bharti Airtel with a revised price target (PT) of Rs. 610.
For all recommendations report, click here
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