Bengaluru, June 23 -- The shares of Bharti Airtel are in focus after Jefferies has assigned a buy rating with an upside potential of 22 percent from its previous closing price. In this article, we will discuss the rationale behind this uptick.

With a market capitalization of 11,61,195 crores, the shares of Bharti Airtel Ltd previously closed at Rs. 1937, close to its 52-week high of Rs 1,949. Over the past five years, the stock has delivered a return of 252 percent. Global brokerage house Jefferies has assigned a target price of Rs 2,370 per share, signalling an upside potential of 22.35 percent.

Bharti Airtel is Jefferies' top pick in the telecom space, describing it as its preferred telecom play based on robust fundamentals and favour...