Citi upgrades Bharti Hexacom to 'buy' on superior earnings growth, stock correction

Bharti Hexacom

27/10/2026 04:09

** Citi Research upgrades India's Bharti Hexacom BHAX.NS to "buy" from "neutral", raises PT to 1,870 rupees from 1,700 rupees
** Stock rises 2% to 1,661.8 rupees
** "Hexacom offers pure-play exposure to India's mobile and home broadband opportunity, with limited diversification-related noise," Citi says
** Adds that rating upgrade is driven by 13% correction in BHAX over last 12 months and superior earnings growth
** Expects co to deliver 3-year compounded annual EBITDA growth of 16%, ahead of parent Bharti Airtel's BRTI.NS 13%-15% growth for India mobile and homes business
** Stock rated "buy" on average by 15 brokerage firms, median PT at 1,912.5 rupees, per data compiled by LSEG
** YTD, BHAX down 9.3%


 (Reporting by Vivek Kumar M)
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