BT Group: UBS still a seller - cuts target price

(CercleFinance.com) - UBS reinstates its "sell" rating on BT Group, having reduced its corresponding target price from 111 pence to 102 pence, representing downside potential of 28% for the British incumbent telecom operator's share, for which the broker deems the recent re-rating "overdone".


"Recent tax changes are net negative and Openreach stake sale/change of strategy unlikely near term", UBS says, which has cut its target price due to tax changes.

The market seems to be steering clear too - the share is down over 3.5% at about 136 pence on Monday morning.


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