Proximus: UBS upgrades stock
(CercleFinance.com) - UBS has upgraded Proximus shares from "sell" to "neutral", despite trimming its target price for them from 8.
8 euros to 8.2 euros, which gives the the Belgian telecoms operator's share limited downside potential of 3%.
While it acknowledges that "questions remain over fibre rollout and new entrant risk", the broker considers that the problems are largely priced in, with the share price having fallen by 20% over the past three months.
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