Swisscom: RBC maintains 'underperform' rating.
(CercleFinance.com) - RBC Capital Markets maintains its "underperform" rating on Swisscom shares, albeit raising its target price from 347 Swiss francs to 356 Swiss francs, which still implies 30% downside potential.
"We believe Swisscom's valuation does not discount the full effect of competitive risks," the broker writes in a report.
RBC says the stock is trading at a premium relative to peers, at 9.1x 2018E EV/EBITDA compared to 6.6x for its peers.
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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.
"We believe Swisscom's valuation does not discount the full effect of competitive risks," the broker writes in a report.
RBC says the stock is trading at a premium relative to peers, at 9.1x 2018E EV/EBITDA compared to 6.6x for its peers.
Copyright (c) 2017 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.