BT Group: stock rises on broker upgrade
(CercleFinance.com) - The share of BT Group is up almost 2% in London at lunchtime on Tuesday, boosted by Barclays comments, which has upgraded its rating on the share from "equal weigh" to "overweight," while raising its target price from 130 pence to 160 pence, saying, "We take a more constructive view" on the BT share.
The broker justifies its upgrade by "a rapidly improving outlook for Openreach and FTTH, supported by recent meeting with management," as well as by "derisked consensus estimates with attractive valuation".
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