Jio IPO delay among 2 reasons why Jefferies cuts Bharti Airtel’s target price
Jefferies has cut its target price on Bharti Airtel as it factors in a potential delay in Jio’s IPO and rising macro risks, even as it reiterates a Buy call and says the risk-reward remains extremely favourable. The brokerage has lowered its price target to ₹2,250 from ₹2,575, implying 25% upside from the previous close, after trimming its India revenue and EBITDA estimates by 6-8% over FY26–28.
In its latest note, Jefferies flagged that tariff hikes could be pushed back as the much-awaited Jio IPO may be delayed beyond the first half of calendar 2026 due to regulatory overhang.
