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BT Group: Credit Suisse cuts target price

( - Credit Suisse reaffirms its "outperform" rating on the share of BT Group, although has cut its corresponding target price from 190 pence to 180 pence, following an update on its first quarter results and its first targets provided for FY 2021.

The broker believes that the telecom operator's EBITDA will return to growth in FY 2022, with the reversal of the short-term impact of Covid-19 on world sporting events and the UK economy.

Credit Suisse expects EBITDA to be flat between FY 2020 02and 23 at 7.9 billion pounds. It says that the consensus is "much too pessimistic in forecasting a 5% reduction over the same period".

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