Orange: Berenberg still a buyer before Q3 sales
(CercleFinance.com) - On Friday morning German broker Berenberg confirmed its buy rating on the share of the French telecom operator Orange, which will report its Q3 sales on 29 October.
It has however shaved a fraction off its target price, cutting it from 16.8 euros to 16.6 euros.
After token sales growth of 0.5% in Q2, analysts expect similar performance in Q3 (+ 0.7%). Although competition is expected to remain strong in Spain, it will probably continue to decline in France.
Berenberg considers the Orange share as a safe haven, largely unaffected by political, investment and balance sheet risks that affect other big caps in the sector. In addition, the broker believes it to be trading at a discount.
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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.
It has however shaved a fraction off its target price, cutting it from 16.8 euros to 16.6 euros.
After token sales growth of 0.5% in Q2, analysts expect similar performance in Q3 (+ 0.7%). Although competition is expected to remain strong in Spain, it will probably continue to decline in France.
Berenberg considers the Orange share as a safe haven, largely unaffected by political, investment and balance sheet risks that affect other big caps in the sector. In addition, the broker believes it to be trading at a discount.
Copyright (c) 2019 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.