Orange: Berenberg drops 'buy' rating
(CercleFinance.com) - Berenberg has downgraded its "buy" rating on the Orange share to "hold" and has cut its corresponding target price from 16.
30 euros to 14.30 euros, with the broker believing that "there are more attractive options elsewhere in the sector".
"With 2020 guidance already out of the way and post-capital markets day downgrades well-flagged, the bad news is seemingly already "in the price" for Orange," analysts believe, who say that the share as "Safe, but lacking positive catalysts."
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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.
30 euros to 14.30 euros, with the broker believing that "there are more attractive options elsewhere in the sector".
"With 2020 guidance already out of the way and post-capital markets day downgrades well-flagged, the bad news is seemingly already "in the price" for Orange," analysts believe, who say that the share as "Safe, but lacking positive catalysts."
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.