Cellnex: Jefferies raises target price

(CercleFinance.com) - Jefferies reiterates its "buy" recommendation on the Cellnex Telecom share, having raised its corresponding target price raised from 50 euros to 57 euros, believing that the Spanish telecommunications infrastructure group is "proving to be a net beneficiary of the coronavirus".


While "Its defensive business model already made the equity appealing. Evidence from 1Q20, and the voiceover thereto, signals that MNO's are more actively engaging in an outsourcing dialogue," pointing to imminent 5G deployments.


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