ICICI Securities has become very bullish on India's largest telecom company Bharti Airtel and has recommended a strong buy on the stock with a target price of 420 which is good 37% appreciation from the current market price of 306 as on 13th July 2012.
The brokerage report says "Using the DCF methodology for valuing Bharti and assuming a revenue CAGR of 7.9% in FY12-20E and a terminal growth of 3.0% thereon, we have arrived at a target price of Rs 420. The risk reward seems to be favourable at this point. We rate the stock as STRONG BUY"
Use the following link to download the Research Report on Bharti Airtel