<ul data-eligibleForWebStory="false"><li>UBS has downgraded Bharti Airtel to 'sell' and Vodafone Idea to 'neutral', citing rich valuations and potential delays in tariff hikes.</li><li>UBS raised its price target on Bharti Airtel but slashed it for Vodafone Idea. The sector is viewed as 'priced for perfection' with no buy-rated stocks by UBS.</li><li>UBS expects a 'boring' quarter ahead for the telecom sector in fiscal 2026, with limited movement in core metrics. Bharti Airtel and Vodafone forecast modest revenue growth.</li><li>The medium-term revenue estimates for Vodafone Idea have been lowered by UBS due to ongoing funding delays, with capex forecasts also reduced.</li></ul>

UBS Sees Telecom Quarter On Silent Mode; No Buy Calls On Any Stock In Sector

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