The broking firm has set a target of Rs 390 on the stock of Bharti Airtel.
The stock of Bharti has been trading in a range for the past several months and had in last April fallen to a low of Rs 266. In November the stock had hit a 52-week high of Rs 373 on the National Stock Exchange.
Only recently, Bharti Airtel, entered into an infrastructure-sharing deal with the telecom arm of Reliance Industries.
The deal would give the telecom unit, Reliance Jio, pan-India access to Bharti's nationwide infrastructure while giving
Bharti access to the optic fibre capacity created by Jio in future. This is likely to improve the cash flows for Bharti Airtel.
Analysts are of the opinion that predatory pricing in the telecom space maybe over, giving room for margin expansion for players in the future.