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Analysts lower price targets for Airtel, Idea after Jio launch

RIL suffers mcap loss of over $2 bn in two days on concerns over break-even

Reliance Jio

IncumbenttelecomplayersBhartiAirtelandIdeaCellularsufferedhugecutsintheirpricetargetsasanalystsfearedJio'slaunchwoulddisruptthe$28-billionIndiantelecommarket. InfluentialforeignbrokeragesGoldmanSachs,CreditSuisseandJPMorganhavecuttheir12-monthpricetargetsforAirtelandIdeabyasmuchas19%. SharesofLondon-listedVodafonePlc,whichderivesoveratenthofitsrevenuesfromtheIndianmarket,toofell3%onThursdaytoitslowestlevelinmorethanamonth. SharesofAirtelandIdearecoupedsomeofthelossesonFriday, ...