Telefonica: BarCap cuts target price
(CercleFinance.com) - Barclays Capital (BarCap) repeats its "weight in line" recommendation on the Telefonica stock and trims its corresponding target price from 9.
10 euros to 8.80 euros, in a report on the European telecommunications sector, which, as a whole, it has upgraded its stance from "negative" to "positive".
The broker expects the industry's operating trends will improve in 2019 compared to 2018, thanks to fewer regulatory hurdles and no further deterioration in the competitive environment.
However, BarCap acknowledges that estimates in the sector have been over-optimistic in recent times, and cites tougher competition in Spain as a potentially negative factor.
Copyright (c) 2018 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.
10 euros to 8.80 euros, in a report on the European telecommunications sector, which, as a whole, it has upgraded its stance from "negative" to "positive".
The broker expects the industry's operating trends will improve in 2019 compared to 2018, thanks to fewer regulatory hurdles and no further deterioration in the competitive environment.
However, BarCap acknowledges that estimates in the sector have been over-optimistic in recent times, and cites tougher competition in Spain as a potentially negative factor.
Copyright (c) 2018 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.