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CLSA retains 'sell' on Bharti Infratel, target price Rs 200

The stock ended up 1.1% at Rs 218.75 on Wednesday.

Last Updated: Feb 27, 2020, 09.25 AM IST
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CLSA has retained sell rating on Bharti Infratel and lowered target price to Rs 200 from Rs 230 after the company extended the long-stop date for the merger with Indus Towers to April 24. Vodafone Idea is 30% of Infratel’s and 50% of Indus’ tenancies and potential insolvency would likely terminate an Infratel merger with Indus, said CLSA. Despite a compelling 7% dividend yield, a key catalyst for the stock will be AGR relief, which is a must for Vodafone Idea’s survival, and in-turn, imperative to the Infratel-Indus merger, said CLSA. The stock ended up 1.1% at Rs 218.75 on Wednesday.

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