Telefonica: Credit Suisse downgrades stock
(CercleFinance.com) - Credit Suisse analysts have said that they are downgrading the Telefonica share from "Outperform" to "Neutral".
Likewise, the broker has also reduced its target price from 7.82 euros to 5.10 euros.
"We believe that TEF's longer term EBITDA outlook has changed with COVID-19 and many of the M&A catalysts are now priced in. We prefer BT among telcos," the broker said.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.