Nomura has reiterated its Buy rating on Bharti Airtel, raising the target price to ₹1,850, suggesting a potential upside of 12.7% from the current market price of ₹1,641.90.
Key insights from Nomura’s report:
- Strong India Performance: Bharti Airtel’s India business delivered strong results, with continued healthy performance in its core Africa operations as well.
- Debt and Capex: Net debt increased modestly; however, capex levels have moderated, which may positively impact future cash flows.
- ARPU Growth Advantage: Nomura believes Bharti Airtel is well-positioned to capitalize on rising average revenue per user (ARPU) trends, strengthening its revenue potential.
Nomura’s revised target reflects confidence in Airtel’s strong market position and its potential to benefit from ARPU growth, both in India and Africa.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investors should perform due diligence before making investment decisions.