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Orange: Barclays upgrades stock

( - Barclays has upgraded Orange shares on from "equal weight" to "overweight", raising its target price for them from E12 to E13.

In a sector report, the broker justifies its decision by the continuous improvement in the prices of offers in France, as illustrated by the recent increases announced by Bouygues and SFR.

With nearly 65% ​​of its intrinsic value drawn from France, it is Orange that is most likely to benefit from this buoyant pricing environment, believes Barclays.

The analyst also expects the profitability of the telecom operator to continue to improve, with a ROCE rising from 5.7% in 2021 to 6.1% in 2022.

Indeed, Barclays expects this to be around 7% by 2025.

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