Why is this telecom stock Jefferies preferred pick in the telecom sector?
Jefferies has reiterated its Buy rating on Bharti Airtel, calling it the preferred pick in India’s telecom sector, with a Rs 2,635 target price implying a 22% upside from current levels. The brokerage said Airtel’s stable market structure, continued ARPU gains, and improving free cash flow visibility make it the strongest play in telecom.