Deutsche Telekom: shares rise after Credit Suisse upgrade
(CercleFinance.com) - Shares in Deutsche Telekom are among the top DAX risers on Wednesday, rising 1.
3%, after Credit Suisse upgraded its rating on the German telecom giant to "outperform" from "neutral," seeing a "long-term winner" in the phone company.
"We see potential valuation upside for both T-Mobile US and the ex US business," Credit Suisse writes in a note.
The broker says that at the current T-Mobile US share price and valuing Deutsche Telekom towers in line with peers, investors get the rest of the business for free, as DT's share price ex-US has been weak, largeky reflecting expectations of increased capex.
Credit Suisse has also raised its target price for the Deutsche Telekom share to 20 euros, from 18 euros previously.
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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.
3%, after Credit Suisse upgraded its rating on the German telecom giant to "outperform" from "neutral," seeing a "long-term winner" in the phone company.
"We see potential valuation upside for both T-Mobile US and the ex US business," Credit Suisse writes in a note.
The broker says that at the current T-Mobile US share price and valuing Deutsche Telekom towers in line with peers, investors get the rest of the business for free, as DT's share price ex-US has been weak, largeky reflecting expectations of increased capex.
Credit Suisse has also raised its target price for the Deutsche Telekom share to 20 euros, from 18 euros previously.
Copyright (c) 2020 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.