Bharti Airtel Ltd. shares continued their upward trajectory, marking a third consecutive day of gains on Friday, May 15, 2026. The telecom major's stock climbed as much as 2.11% in early trade, hitting a day's high of Rs 1,923.15 per share. This strong performance follows the announcement of its robust Q4 FY26 financial results on Wednesday after market hours, with the counter gaining approximately 7.55% over two trading sessions.
Top brokerages have largely maintained a bullish outlook on the Sunil Mittal-led telecom giant, citing strong core operations and consistent subscriber additions. Their optimistic stance underscores confidence in Bharti Airtel's future growth prospects.
Brokerages Project Significant Upside
- Nuvama Institutional Equities: Nuvama reiterated its 'Buy' rating, setting a target price of Rs 2,550 per share. This target suggests a potential upside of up to 33% from current levels. The brokerage views Bharti Airtel as the premier investment choice within the Indian telecom sector, despite minor revisions to its FY27E/28E EBITDA projections.
- Axis Direct: Maintaining its 'Buy' recommendation, Axis Direct set a target price of Rs 2,530. The firm believes Bharti Airtel is strategically positioned for continued market share gains, supported by high penetration and minimal capital expenditure requirements.
- JM Financial: JM Financial also upheld its 'Buy' rating, assigning a target price of Rs 2,450. The brokerage projects a wireless Average Revenue Per User (ARPU) growth of approximately 12% CAGR between FY26-28, driven by regular tariff hikes and various premiumization strategies.
- PL Capital: Reinforcing the positive sentiment, PL Capital maintained a 'Buy' rating with a target price of Rs 2,226. PL Capital highlighted management's focus on enhancing ARPU through bundled offerings, increasing postpaid subscriber penetration, and expanding rural network coverage.
The consistent positive sentiment from these financial institutions indicates a strong market belief in Bharti Airtel's operational strengths and strategic initiatives to drive future profitability and market leadership.