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BUZZ-India's Bharti Infratel gains on Goldman rating upgrade
December 28, 2016 / 6:41 AM / a year ago

BUZZ-India's Bharti Infratel gains on Goldman rating upgrade

** Telecom tower infrastructure company Bharti Infratel’s shares rise 3.54 pct to 343.6 rupees; stock top gainer on NSE index

** Goldman Sachs upgrades stock to “neutral” from “underperform” with a target price of 326 rupees, removes it from Asia-Pacific sell list

** Cites continued headwinds, including from increased competition and consolidation by mobile operators

** Notes accelerated 4G deployment by telecom companies could result in “strong” growth in tenancy, or rental of mobile towers, over the next few quarters

** Out of 27 analysts covering stock, 12 rate it ‘Buy’ or equivalent, eight have ‘Hold’ ratings while seven have ‘Sell’ or equivalent - Thomson Reuters data

** Median price target of the stock is 395 rupees

** Up to Monday’s close, stock had fallen 22.48 pct this year compared with a 1.09 pct increase in the NSE index during the same period (

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