Angel Stock Broking has suggested a buy for Idea Cellular. The stock has gained over 5 percent in today’s trading session. IDEA has a good business model and the company may soon come out with positive announcements. The long term outlook for the stock is good.

Based on the strong results for next 12 months, the stock may see levels of Rs 180. At current market price of 132, the stock is trading with a P/E of 55 which is higher than industry average. However, the stock valuation will become attractive as the company declares better results in coming quarters.

The stock has also been recommended by IndiaBulls technical analysts. The stock is good for an investment over a period of 6 – 8 months.

Some other stocks in telecom space include Bharti Airtel, Reliance Comm, VSNL, MTNL and Tata Teleservices (TTML). Bharti Airtel has recently recovered from lower levels. The Stock is looking attractive for a long term investment.