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BHARTIARTL Share Price Target
Bharti Airtel Ltd.
Sector: Telecommunications
Sector: Telecommunications
BHARTIARTL Share Price *
384 -9.55 (-2.43%)
* (quote may be delayed)
BHARTIARTL Share Price Forecast - Consensus
| No. of reports in last year | 18 |
| No. of analysts | 4 |
| Average Consensus Forecast | 391.33 |
| Consensus Potential | -0.88% |
BHARTIARTL Share Price Target - Broker Reports - 2019
Motilal Oswal
24-Sep-19
Price @ Call: 348.86
Target: 420
BUY
Motilal Oswal
6-Aug-19
Price @ Call: 363.63
Target: 420
BUY
We maintain our TP at INR420, ascribing 11x EV/EBITDA to the India business and 5x to the Africa business, given the low trading multiples. While the steady EBITDA performance, deleveraging and the improving FCF position have protected the stock even in the current weak market, incremental upside would hinge on pricing actions, in our view.Maintain Buy.
ICICIdirect.com
5-Aug-19
Price @ Call: 343.45
Target: 400
BUY
While the pricing uptick at industry level is still away, we highlight that Bharti Airtel is well placed to tackle the industry pressure with an apt strategy of focusing on high paying customers. We believe Bharti with a relatively nimble balance sheet post rights issue of ~| 25000 crore, Africa monetisation through pre IPO stake sale (~US$1.45 billion) as well as IPO fund raise of US$750 million, coupled with further potential of deleveraging, can remain one of the major players in Indian telecom. We now incorporate the Ind-AS 116 effect and Tata Tele customers/revenues base in our estimates. With resilient performance amid challenging times for second consecutive quarter, we now upgrade it to BUY (vs. HOLD earlier) with a DCF based target price of | 400/share.
Motilal Oswal
3-Aug-19
Price @ Call: 338.35
Target: 420
BUY
We maintain our TP at INR420, ascribing 11x EV/EBITDA to the India business and 5x to the Africa business, given the low trading multiples. While the steady EBITDA performance, deleveraging and the improving FCF position have protected the stock even in the current weak market, incremental upside would hinge on pricing actions, in our view. Maintain Buy.
Sharekhan
2-Aug-19
Price @ Call: 338.35
Target: 390
BUY
Maintain Buy with a PT of Rs. 390: We have tweaked our earnings estimates for FY2020E/FY2021E owing to better-than- expected operating numbers, with the shift to IND-AS 116. Although strong India wireless business performance q-o-q is positive, the sustainability of this growth momentum needs to be watched given an intense competition. We believe the proceeds from Africa IPO and planned divestment of tower business stake would provide Bhartifinancial flexibility to further reduce net debt/EBITDA and also support cash flows. Given Bharti’s resilience in a tough environment, continuedimprovement in ARPU for the last two consecutive quarters and scopefor growth in 4G subscribers, we maintain our Buy rating on the stockwith a price target (PT) of Rs. 390.
Motilal Oswal
18-Jun-19
Price @ Call: 344.29
Target: 400
BUY
Given that typically pre-IPO happens at a discount to the IPO price, we were expecting the IPO price to be higher than that in the pre-IPO rounds. At FY21E EBITDA of USD1.6b – factoring 10% CAGR over FY19-21, the IPO is priced at EV/EBITDA of 4.4x/4.8x at the lower/higher end of the band, much lower than our estimate of 7x. We have yet not adjusted our numbers but expect this to exert pressure on the company’s valuation. We maintain our Buy rating with SOTP-based target price of INR400.
ICICIdirect.com
6-Jun-19
Price @ Call: 353.45
Target: 400
HOLD
We believe Bharti with a relatively nimble balance sheet (vis-à-vis peers), can remain one of the major players in Indian telecom. We now incorporate the dilution from rights issue. We also bake in IUC impact as well as improvement in ARPU led by post- paid price hike. Post ~15% run up in stock price since our last update, we now assign a HOLD rating (vs. Buy earlier) with a revised target price of Rs 400 (based on DCF based methodology). Quicker industry repair and inability of new player to deleverage remains an upside risk to our call.
Sharekhan
4-Jun-19
Price @ Call: 352.9
Target: 390
BUY
Maintain Buy with a revised PT of Rs. 390:
Although India wireless revenue as well as EBITDA growth on sequential basis is a positive surprise during the quarter, the sustainability of this growth momentum needs to be monitored in the coming quarters given the higher competitive intensity environment. We believe the planned value unlocking of its holdings in its subsidiaries and divestment of tower business stake wouldprovide financial flexibility to reduce net debt/EBITDA level to around 2.6x (recent rights issue proceeds are expected to reduce this ratio to3.4x) and provide cash flow support. Given theresilient performance in a tough environment and some signs of stability in India wireless business, we maintain our Buy rating on the stock with a revised price target (PT) of Rs. 390.
Although India wireless revenue as well as EBITDA growth on sequential basis is a positive surprise during the quarter, the sustainability of this growth momentum needs to be monitored in the coming quarters given the higher competitive intensity environment. We believe the planned value unlocking of its holdings in its subsidiaries and divestment of tower business stake wouldprovide financial flexibility to reduce net debt/EBITDA level to around 2.6x (recent rights issue proceeds are expected to reduce this ratio to3.4x) and provide cash flow support. Given theresilient performance in a tough environment and some signs of stability in India wireless business, we maintain our Buy rating on the stock with a revised price target (PT) of Rs. 390.
Sharekhan
9-May-19
Price @ Call: 320.03
Target: 350
BUY
Motilal Oswal
8-May-19
Price @ Call: 323.74
Target: 410
BUY
Motilal Oswal
1-Mar-19
Price @ Call: 317.95
Target: 380
BUY
HDFC Securities
4-Feb-19
Price @ Call: 311.6
Target: 404
BUY
ICICIdirect.com
4-Feb-19
Price @ Call: 305.37
Target: 380
BUY
Motilal Oswal
4-Feb-19
Price @ Call: 311.6
Target: 380
BUY
BHARTIARTL Share Price Target - Broker Reports - 2018
Motilal Oswal
19-Nov-18
Price @ Call: 333.6
Target: 390
BUY
ICICIdirect.com
30-Oct-18
Price @ Call: 293.65
Target: 380
BUY
HDFC Securities
29-Oct-18
Price @ Call: 295.92
Target: 340
BUY
Motilal Oswal
26-Oct-18
Price @ Call: 297.36
Target: 390
BUY
ICICIdirect.com
30-Jul-18
Price @ Call: 372.32
Target: 425
BUY
HDFC Securities
30-Jul-18
Price @ Call: 372.32
Target: 455
BUY
Motilal Oswal
29-Jul-18
Price @ Call: 366.68
Target: 470
BUY
Edelweiss
27-Jul-18
Price @ Call: 366.68
Target: 452
BUY
Indiabulls Ventures
27-Jun-18
Price @ Call: 377.03
Target: 430
BUY
HDFC Securities
11-May-18
Price @ Call: 389.89
Target: 460
BUY
Motilal Oswal
26-Apr-18
Price @ Call: 419.8
Target: 581
BUY
ICICIdirect.com
26-Apr-18
Price @ Call: 413.04
Target: 480
BUY
HDFC Securities
26-Apr-18
Price @ Call: 413.04
Target: 487
BUY
Edelweiss
22-Jan-18
Price @ Call: 497.75
Target: 625
BUY
ICICIdirect.com
22-Jan-18
Price @ Call: 497.75
Target: 600
BUY
Motilal Oswal
20-Jan-18
Price @ Call: 492.39
Target: 680
BUY
Sharekhan
17-Jan-18
Price @ Call: 496.9
Target: 600
BUY
ICICIdirect.com
1-Jan-18
Price @ Call: 530
Target: 688
BUY
BHARTIARTL Share Price Target - Broker Reports - 2017
Edelweiss
12-Dec-17
Price @ Call: 532.5
Target: 625
BUY
Edelweiss
2-Nov-17
Price @ Call: 538.4
Target: 625
BUY
Motilal Oswal
1-Nov-17
Price @ Call: 532.78
Target: 680
BUY
Kotak Securities
13-Oct-17
Price @ Call: 398.7
Target: 470
ADD
Motilal Oswal
13-Oct-17
Price @ Call: 398.7
Target: 470
BUY
Motilal Oswal
20-Sep-17
Price @ Call: 390.65
Target: 490
BUY
Geojit Financial Services
4-Aug-17
Price @ Call: 424
Target: 368
REDUCE
ICICIdirect.com
27-Jul-17
Price @ Call: 420
Target: 480
BUY
Motilal Oswal
26-Jul-17
Price @ Call: 426
Target: 490
BUY
ICICIdirect.com
30-Jun-17
Price @ Call: 382.6
Target: 432
BUY
ICICIdirect.com
10-May-17
Price @ Call: 373
Target: 410
BUY
Motilal Oswal
10-May-17
Price @ Call: 373
Target: 430
BUY
ICICIdirect.com
23-Feb-17
Price @ Call: 369
Target: 410
BUY
ICICIdirect.com
15-Feb-17
Price @ Call: 365
Target: 410
BUY
Geojit Financial Services
3-Feb-17
Price @ Call: 353
Target: 326
REDUCE
Motilal Oswal
25-Jan-17
Price @ Call: 312
Target: 410
BUY
Edelweiss
25-Jan-17
Price @ Call: 311
Target: 340
HOLD
BHARTIARTL Share Price Target - Broker Reports - 2016
ICICIdirect.com
8-Dec-16
Price @ Call: 332.45
Target: 340
HOLD
Religare
8-Dec-16
Price @ Call: 332.45
Target: 340
HOLD
YES Securities
26-Oct-16
Price @ Call: 318
Target: 427
ACCUMULATE
ICICIdirect.com
29-Apr-16
Price @ Call: 373
Target: 435
BUY