Orange: share jumps on broker upgrade
(CercleFinance.com) - Orange shares rose by almost 3% on Monday morning in Paris, boosted by Morgan Stanley comments, which has upgraded the stock from equal weight to overweight, while raising its target price for it from E12.
5 to E14.
Morgan Stanley believes that the mobile telephony group is in a position to increase its free cash flow by over 10% p.a., not just thanks to the reduction in its capex, but also thanks to the improvement of its operating profit.
The broker explains that the operator is also exposed to themes that it considers to be promising, such as potential mergers in France and Spain, a shake-up of its management team and a simplification of its organisational structure.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
5 to E14.
Morgan Stanley believes that the mobile telephony group is in a position to increase its free cash flow by over 10% p.a., not just thanks to the reduction in its capex, but also thanks to the improvement of its operating profit.
The broker explains that the operator is also exposed to themes that it considers to be promising, such as potential mergers in France and Spain, a shake-up of its management team and a simplification of its organisational structure.
Copyright (c) 2023 CercleFinance.com. All rights reserved.