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Bharti Airtel rose 2.85% to Rs 819.30 after a foreign broker maintained 'buy' rating on the stock and raised its price target to Rs 1,040 per share.
The target price is 27% premium to the ruling market price.According the the media reports, the broker said that Bharti Airtel is best play on India mobile with hefty operating cashflows & rising ROCE. It forecast Bharti Airtel to record 16%/22% India mobile revenue/EBITDA CAGR by FY25. It expects the telco to offer 5G upside to mobile & company's enterprise offerings. It said that despite 5G capex, it expects hefty cashflows of $28 billion to drive deleveraging to 1x EBITDA. Meanwhile, the brokerage said that cashflows will drive pre-tax ROCE to 18% by FY25CL.
Bharti Airtel is a global communications solutions provider with over 500 million customers in 17 countries across South Asia and Africa. The telecom major's consolidated net profit surged 89.17% to Rs 2,145.2 crore on 21.89% jump in revenue from operations to Rs 3,4526.8 crore in Q2 FY23 over Q2 FY22.
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