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Deutsche Telekom: UBS maintains 'buy' rating

(CercleFinance.com) - UBS maintains a "buy" rating on the Deutsche Telekom share, with a target price of 19.
50 euros, saying that investment in fibre lowers the risks around German capex.

The broker points out that the telecommunications giant recently
stroke a series of fibre co-investments in Germany, with the main one being a joint venture with utility group EWE.

The companies plan to together invest a combined two billion euros over 10 years to cover 1 million homes with fibre (FTTH), UBS says.

"We see the moves as positive for Deutsche Telekom, yet the share price has drifted," the broker states in a report.

UBS hence says it remains positive on the stock, and re-iterates its view that growth in Germany has been "underestimated."

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