Credit Suisse sees over 30% upside in Bharti Airtel

NEW DELHI: Credit Sussie has maintained an 'outperform' rating on Bharti Airtel with 12-month price target set at Rs 385, the global investment bank said in a report.

At 10:00 am, the stock was trading 0.5 per cent lower at Rs 291.95. It has hit a low of Rs 291.35 and a high of Rs 294.20. The price target suggested by Credit Suisse translates into a 30 per cent gain from current levels.

The brokerage said new aggressive India strategy adopted by company is showing results and it expects pessimism on regulations to soon give way to optimism on business.

Credit Suisse believes that positives should be visible soon and feels the company is well poised to generate significant cash flows over the next two years.