Bharti Airtel’s Q2 performance, marked by revenue and subscriber growth, attracted varied opinions from brokerages.
Citi: Buy | Target Price: ₹1,950 | Upside: 17%
Citi has reiterated a Buy rating on Bharti Airtel, setting a target price of ₹1,950, implying a 17% upside. Q2 performance exceeded expectations, with India mobile revenue and EBITDA growing 10% and 13% quarter-over-quarter, respectively, despite a recent tariff hike. Citi noted stable capex in India and a net debt-to-EBITDA ratio holding steady at 2.5 times.
UBS: Neutral | Target Price: ₹1,595 | Downside: 4%
UBS holds a Neutral view on Bharti Airtel with a target price of ₹1,595, indicating a slight downside. Q2 results were broadly in line with expectations, with India mobile revenue up 10.3% quarter-over-quarter. UBS highlighted concerns over a 2.9 million subscriber decline and a 21% miss in PAT due to forex losses in Africa.
Citi remains positive on Bharti Airtel, expecting revenue growth from tariff hikes and stable capex levels, while UBS sees downside risk amid subscriber churn and foreign exchange losses in Africa.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investors should perform due diligence before making investment decisions.
