Bharti Airtel Is A 'Buy' For These Analysts — Check Reason And Price Target

Bharti Airtel is a stock worth buying heading in Friday's trade, according to Adlytick.in founder Aditya Arora and IDBI Capital's Brijesh Ail.

Both analysts see strong short-term upside on the telecom giant, which gained 1.21% in trade yesterday. Over a one-year period, the stock has given 16% return to investors.

Aditya Arora has given a 'buy' call on Bharti Airtel with a price target of Rs 1,945 and a stop loss of Rs 1,880. This implies an upside of 1.67%.

Brijesh Ail, Head of Technical and Derivatives, Retail Research at IDBI Capital, has also given a 'buy' call on the scrip, with a price target of Rs. 1,938.

He has given a stop loss of Rs 1,896, implying an upside of 1.31%.

Speaking to NDTV Profit, Brijesh Ail points to technical charts that may support an uptrend from Bharti Airtel in trade on Friday.

"The Stock is forming a base formation over the last 10 to 15 trading sessions. Yesterday‘s bullish candle formation was supported by volumes," he said.

"The momentum indicator, relative strength indicator (RSI) and Moving Average Convergence Divergence (MACD) have triggered buying. As per derivative, there has been shift in call writing from 1,950 to 2,000. Hence, there is a short-term bounce in the counter," he added.

Bharti Airtel currently trades with an RSI of 51.45, which suggests neutral market sentiment around the stock.

The telecom giant has been in focus lately, especially after it acquired over 68.7 lakh shares in Indus Towers earlier this September.

26 out of 34 analysts tracking the company have a 'buy' rating on the stock and three recommend a 'hold', according to Bloomberg data. The 12-month analysts' consensus target price implies an upside of 9.6%.