CITI forecasts bullish run for telecom stocks in second half; Bharti Airtel and Indus Towers lead recommendations

A new CITI Research has projected a dynamic outlook for India’s telecom industry in the year’s second half, anticipating multiple positive developments. Key factors shaping their expectations include potential tariff hikes, promising opportunities in 5G monetisation, and the revival of Vodafone Idea’s capital expenditure plans with clarity on tower additions. Moreover, CITI highlighted the likelihood of Indus Towers resuming dividends and potential corporate actions.

In their latest recommendations, CITI reiterated a bullish stance on Bharti Airtel, setting a target price of ₹1,520 and emphasising its favourable positioning in the evolving telecom landscape. Similarly, Indus Towers received a buy rating with a target price of ₹450, reflecting optimism in its growth prospects.

However, CITI maintained a neutral stance on Vodafone Idea, setting a target price of ₹15, with a bullish scenario projecting a target of ₹25, contingent on favourable outcomes in key areas like the AGR case.

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