BHARTIARTL

10.02.2022 - Macquarie on BHARTIARTL Maintain Outperform CMP 721.50 Target 846
09.02.2022 - Gs on BHARTIARTL Maintain Buy CMP 706.95 Target 8850
09.02.2022 - Nomura on BHARTIARTL Maintain Buy CMP 706.95 Target 855
09.02.2022 - CLSA on BHARTIARTL Maintain Buy CMP 706.95 Target 915
09.02.2022 - Jefferies on BHARTIARTL Maintain Buy CMP 706.95 Target 910
25.01.2022 - Jefferies on BHARTIARTL Maintain Buy CMP 687 Target 925

BofA Securities upgrades Bharti Airtel to BUY  -30.08.2021

Upgrade to buy, TP Rs 730, find risk reward favorable  
Raise Fy23-24 EPS by 7-10%, assume faster revenue growth & market share gain 
Fund raise likely to fortify competitive position 

Jefferies on Bharti Airtel - 30.08.2021 

*Buy, TP Rs 685 To raise Rs210bn through rights issue at Rs535 bodes well as it allays concerns around promoters' intent 
*Will be EPS accretive & may set Rs535 as floor price 

* With market share gains set to accelerate, maintain Buy

CLSA ON BHARTI AIRTEL - 30.08.2021

• Maintain BUY, Target at Rs 780/share
* Rights issue came on unexpected lines
• Rights issue to result in equity dilution of 7%
• Bharti Airtel owners will subscribe to their full entitlement 

• Bharti Airtel rights issue and call options create headroom

MACQUARIE ON BHARTI AIRTEL - 20.08.2021

• Maintain Outperform, Target at Rs 867/share 
• EBIT Margins increasing from 11% to 14-15%

• African Mobile is growing on combination of subscriber growth

• Bharti has much less debt that meets the eyes

JPMORGAN ON BHARTI AIRTEL : 04.08.2021

• Q1 print shows tide is turning with strong wireless ARPU; Solid traction in 1Q Home/DTH
• Raise India wireless revenues by 1% & Ebitda by 1-4% as we bake in increased ARPUS
• BHARTI remains reasonably priced at 8x 1yr fwd EV/EBITDA

GOLDMAN SACHS ON BHARTI AIRTEL : 04.08.2021

* Marginally raise estimates and target price
* Expect Bharti's India Biz to be FCF positive starting FY22
• Raise our FY2022E-24E EBITDA estimates for Bharti by up to 2%

CITI ON BHARTI AIRTEL : 04.08.2021

* Citi maintains BUY call on Bharti Airtel, target at Rs 660/sh
* Q1 Expectedly Soft Quarter, But Pick-Up Ahead
* Q1 Revenue & EBITDA Ahead Of Estimates
* India Mobile Revenue In-line, Mobile EBITDA Growth Stronger At +5% QOQ
* Mobile Revenue Growth Should Show An Uptick In Q2
* MAINTAIN BUY TARGET: 660

GS ON BHARTI AIRTEL : 04.08.2021

* Goldman Sachs has a BUY call on Bharti Airtel, target at Rs 675/sh
* Forecast Wireless Segment To Deliver 20% + Revenue & EBITDA Growth For Next Two Years
* Expect Co's India Business To Be FCF Positive Starting FY22
* Marginally Raise FY22-24 EBITDA Estimates By Up To 2%
* See Upside Risks To Our Estimates On Accelerated Mkt Share Gains From Vodafone Ideal
* MAINTAIN BUY TARGET: 675

CLSA ON BHARTI AIRTEL : 04.08.2021

* CLSA maintains OUTPERFORM call on Bharti Airtel, target at Rs 730/sh
* MAINTAIN OUTPERFORM TARGET: 730
* 4G Penetration At 57% Of Its Own India Mobile Subscribers & Tariff Hikes Assure Growth
* Forecast A 17% CAGR In Consolidated EBITDA By FY23

BHARTI AIRTEL : 29.07.2021

* Have Announced 4 Changes In Tariff Plans In Last Month
* Discontinues entry level pre-paid of Rs 49
* Tariff changes in last 1 month
• Removal of SMS benefits for entry 2G. Need to extra to get SMS benefit
• Removal of lower end plans for post paid for enterprise
• Discontinued lower end family plans
• Discontinues entry level Pre-paid of Rs 49 yesterday
Moves will help in improving ARPUS; last reported ARPU stood at Rs 145

CLSA ON DALMIA BHARAT : 29.07.2021

* Downgrade from BUY to Outperfrom, Target at Rs 2,225/share
* 1Q Ebitda largely in-line; target 15% capacity Cagr over ten years
• 1Q Ebitda largely in-line with consensus
* Capital allocation plan focuses on growth and green initiatives

CITI ON BHARTI AIRTEL : 29.07.2021

* Yesterday's hike could provide a further 2% benefit to Bharti Airtel's mobile revenue
* Another Targetted Hike In The Low-end 2G Segment
• This Could Provide A Further 2% Benefit To Mobile Revenues
* Estimate This Segment Contributes 5% To Co's Overall Mobile Revenues
* MAINTAIN BUY TARGET: 660

GS ON BHARTI AIRTEL : 29.07.2021

* Bharti Airtel's plan tweaks will lead to +3%/ +6% wireless revenue/EBITDA, Goldman Sachs says, maintains BUY on the stock
* Tariff Hike: The Most Significant Catalyst Since 2019
* Plan Tweaks Will Lead To +3%/ +6% Wireless Revenue/EBITDA For Co
* High Likelihood Of Vodafone Idea Following Bharti's Actions Over The Next Few Days
* MAINTAIN BUY TARGET: 665

UBS ON BHARTI AIRTEL : 29.07.2021

* UBS shares its view on Bharti Airtel after the telco raised prices for its prepaid plans yesterday, says plan tweaks to increase average revenue per user continue, expect Vi to follow co's in tweaking plans
* Plan Tweaks To Increase ARPU Continue
* 4% Upside To Revenues In An Optimistic Scenario
* EBIDTA Acceleration Likely Of 6% Due To Plan Tweaking
* Expect Voda Idea To Follow Bharti In Tweaking Plans
* MAINTAIN BUY TARGET: 655

JPMORGAN ON BHARTI AIRTEL : 28.06.2021

* JPMorgan expects continued share gains supported by superior network quality to drive re-rating for Bharti Airtel
* MAINTAIN OVERWEIGHT TARGET: 760
* Share Gains Supported By Superior Network Quality Should Drive Re-rating
• Market Polarisation & Impressive Digital Metrics Should Drive A Change In Narrative

UBS ON BHARTI AIRTEL : 22.06.2021

* MAINTAIN BUY TARGET: 655
* UBS maintains BUY call on Bharti Airtel, target at Rs 655/sh
* Ties Up With Tata Group For Indigenous 5G Solutions
* 5G Solutions To Be Piloted In Jan 2022
* Spectrum Auctions & Commercial Rollouts Still Some Time Away
* Agreement Positive For The Overall 5G Ecosystem