JP Morgan initiates 'Overweight' coverage on Bharti Hexacom with a target price of Rs 1,280, implying a 20.13% upside.
Bharti Hexacom shares rose 9.3% to Rs 1,165 after JP Morgan initiated coverage with an 'Overweight' rating and a target price of Rs 1,280, indicating a 20.13% upside. The global brokerage views Bharti Hexacom as the best pure-play in the Indian market repair thesis, with 98% of revenues from wireless services. The target price suggests stronger growth in subscriber numbers and organic ARPU expansion will benefit Bharti Hexacom.
July 16, 2024
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