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Bharti Airtel’s shares were inching higher on Wednesday after HSBC said it was upbeat on the telecom giant’s outlook and growth.
What Happened: Bharti Airtel (NS:BRTI) received a bullish call from HSBC, which upgraded the telecom giant’s rating from “hold” to “buy” and significantly raised its price target to ₹1,950, up from the previous ₹1,325. The target price reflects an upside of 13.6% from its last close.
HSBC’s upgrade factors in its confidence in Bharti Airtel’s future growth, particularly in its mobile and home broadband segments.
HSBC’s optimism stems from its revised estimates for mobile average revenue per user (ARPU) for the... Continue reading the full story on Benzinga