Bharti Hexacom shares jump 13%, hit fresh records after Citi initiates buy, Jefferies hikes targets
Bharti Hexacom surged 13% on the NSE on Friday to hit a fresh 52-week high of Rs 1,453.95 after US brokerage Jefferies upgraded the stock's rating to 'Buy' from an earlier 'Hold' view while raising its price target to Rs 1,600 from Rs 1,260. Meanwhile, Citi also initiated a buy on the counter with a price target of Rs 1,405.
Jefferies in a note dubbed the Bharti Airtel promoted company as the 'best play' on tariff hikes.
Reliance Jio Infocomm's rising focus on growth and Vodafone Ideas's market share losses may need multiple tariff hikes over the next few years, the brokerage noted.
It also raised FY26/27 revenue and Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) estimates by 5-12%.
Jefferies said that it expects a 10% tariff hike in mid-FY26 in addition to the 10% hike it had modeled in Q2FY27.
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Citi in its note said that Bharti Hexacom is an attractive midcap telecom operator with a strong
