Jio IPO delay among 2 reasons why Jefferies cuts Bharti Airtel’s target price

Jefferies has cut its target price on Bharti Airtel to Rs 2,250 from Rs 2,575, citing a potential delay in the Reliance Jio IPO and concerns over Bhartis entry into the NBFC business. The brokerage expects tariff hikes to be pushed to December 2026 but maintains a Buy rating, saying the stock still offers favourable risk-reward.