Analysts expect Bharti Airtel stock to cross Rs 1,000

Shares of Bharti Airtel are trading at a record high on Wednesday, September 13, after gaining in three out of the last four trading sessions. The stock made a record high of Rs 908.50 on Wednesday. The stock is among the top gainers on the Nifty 50 index in today’s trading session.

Bharti Airtel’s shares have gained over 12.5 percent so far in 2023. The stock has given positive annual returns every single year since 2019.

Shares have recovered nearly 25 percent from their 52-week low of Rs 735.

Of the 31 analysts that track Bharti Airtel, 24 have a buy rating on the stock, while three say hold. Four analysts have a sell rating.

Among these analysts, 10 of them expect the stock to trade at Rs 1,000 or above over the next 12 months. New Street Research has the highest price target for the stock at Rs 1,400, followed by CLSA at Rs 1,100.

Shares of Bharti Airtel were up nearly 6 percent in September. The month has been a positive one for the stock over the past three years. It rose 10 percent in September 2022 and 5.6 percent in September 2021.

The stock has moved higher in three of the past four trading sessions after it broke above its 50-day Moving Average of Rs 877.

It has been seven years since the launch of Jio. Before its launch, Bharti Airtel had an Average Revenue Per User (ARPU) of Rs 196 and it has crossed those levels currently at Rs 200. The company, on multiple occasions, has reiterated its long-term ARPU target of Rs 300.

Brokerage firm CLSA raised its price target on Bharti Airtel to Rs 1,100 from Rs 1,030 earlier on September 8. It expects Airtel’s ARPU to rise to Rs 257 by the financial year 2026 with the help of nearly Rs 2 crore annual upgrades by the same period.

An acceleration in postpaid subscribers may also aid a 7-10 percent rise in the company’s ARPU, the note said.

At the recently concluded G20 Summit in New Delhi, Chairman Sunil Bharti Mittal told CNBC-TV18 that the company will continue to invest in Africa as it is a key geography for them.

Shares of Bharti Airtel are currently trading 1.7 percent higher at Rs 905.35. CNBCTV18