Buy Bharti Airtel; target of Rs 1200: Citigroup

Citigroup has recommended buy rating on Bharti Airtel with a target price of Rs 1200, in the report dated October 31, 2007. “Bharti's 2QFY08 EBITDA (up 11% qoq) at Rs 27.1 billion was broadly in line with higher contribution from non-mobile businesses covering the slight shortfall in mobile segment, which was impacted by 6% ARPU decline, a tad higher than expectations.