CLSA removes Bharti Airtel from Asia ex-Japan portfolio
The Hong Kong-based brokerage currently has a 'buy' recommendation on the stock.
By ET Bureau | Updated:
CLSA's Chief Strategist Christopher Wood has removed Bharti Airtel from the firm's Asia ex-Japan long only portfolio and replaced it by an investment in China Overseas Land.
The Hong Kong-headquartered brokerage currently has a 'buy' recommendation on the stock with a target price of Rs 640.
The brokerage had retained its rating on the telecom company in January after it reported third quarter results that were ahead of estimates.
"With consolidation and data ramp-up driving multi-year growth for Bharti India mobile and continued Africa improvements, the stock will see higher valuations," CLSA's Deepti Chaturvedi had said in a note dated January 19.
Shares of Bharti Airtel were up 1.42 per cent at Rs 406.90 in morning trade on Friday.
The Hong Kong-headquartered brokerage currently has a 'buy' recommendation on the stock with a target price of Rs 640.
The brokerage had retained its rating on the telecom company in January after it reported third quarter results that were ahead of estimates.
"With consolidation and data ramp-up driving multi-year growth for Bharti India mobile and continued Africa improvements, the stock will see higher valuations," CLSA's Deepti Chaturvedi had said in a note dated January 19.
Shares of Bharti Airtel were up 1.42 per cent at Rs 406.90 in morning trade on Friday.
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