Bharti Airtel Gets Buy Rating with Target Price of Rs 860 from ICICI Direct Research

After the 5G spectrum auctions, there are people who are doubting the capabilities of Airtel to compete with Jio in the 5G domain. Jio has a way better portfolio of the spectrum right now. Regardless, ICICI Direct Research has said that it maintains a 'Buy' rating on Airtel and said the target price is Rs 860 per share. On Tuesday, Airtel's stock closed at Rs 686.80, down by 1.10%. 

Highlights

  • Bharti Airtel has created one of the most solid businesses in India.
  • Analysts expect a market share gain for Jio and Airtel in the future with 5G at the cost of Vodafone Idea.
  • Vodafone Idea kept its focus on the mid-band and mmWave spectrum for rolling out 5G services.

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Bharti Airtel

Bharti Airtel has created one of the most solid businesses in India. The company has several operations going under the umbrella brand. Airtel is recognised as one of the premium telecom service providers in India. However, at the same time, it is regarded as one of the best in the DTH (Direct-to-Home) segment and is also considered a strong performer in the fibre broadband segment. Well, all we know is that it is the only telco which survived without having the need to merge itself with another company to keep going when Jio disrupted the market and almost everyone went out of business. Airtel's superior brand image helped the company navigate through the hard times created by Jio to become profitable again. ICICI Direct Research, in its latest report, said that they maintain the 'Buy' rating on Airtel.

Airtel and Jio Subscriber Market Share to Grow at the Cost of Vi

After the 5G spectrum auctions, there are people who are doubting the capabilities of Airtel to compete with Jio in the 5G domain. Jio has a way better portfolio of the spectrum right now. Regardless, ICICI Direct Research has said that it maintains a 'Buy' rating on Airtel and said the target price is Rs 860 per share. On Tuesday, Airtel's stock closed at Rs 686.80, down by 1.10%.

Analysts expect a market share gain for Jio and Airtel in the future with 5G at the cost of Vodafone Idea. The report from ICICI Direct Research said that churn odds for Vodafone Idea Limited (VIL) are increasing as Jio/Airtel would be able to provide better services. Vodafone Idea didn't make super big purchases in the 5G spectrum auction. The telco kept its focus on the mid-band and mmWave spectrum for rolling out 5G services. As per the recommendation of ICICI Direct Research, looking at the current price of Bharti Airtel, the telco's stock could be a great short-to-medium term investment. What do you think?

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