Iliad: Oddo confirms rating after quarterly results
(CercleFinance.com) - Iliad yesterday published quarterly figures that were bang in in line with expectations.
Oddo notes a commercial stabilization, after a break in the second quarter. Following this publication, the broker confirms its buy rating on the stock, along with a target price of 300 euros.
In its daily equity report Oddo said that in absolute terms figures remain well below the group's historical performance, with a 3.8% decline in revenues from fixed telephony, a loss of 14,000 subscribers for fixed telephony (consensus -14,000 vs. -28,000 in Q2), with revenues of mobile telephony up 0.2% (revenues invoiced to subscribers +3.8%), with -90,000 subscribers, although +200,000 subscribers on the data offer (-200,000 in Q2), despite extensive special offers at competitors in Q3.
Oddo adds that while Iliad seems to have lost its status as a growth stock, the group is currently considering efforts that should enable it to enter into a new growth cycle.
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.
Oddo notes a commercial stabilization, after a break in the second quarter. Following this publication, the broker confirms its buy rating on the stock, along with a target price of 300 euros.
In its daily equity report Oddo said that in absolute terms figures remain well below the group's historical performance, with a 3.8% decline in revenues from fixed telephony, a loss of 14,000 subscribers for fixed telephony (consensus -14,000 vs. -28,000 in Q2), with revenues of mobile telephony up 0.2% (revenues invoiced to subscribers +3.8%), with -90,000 subscribers, although +200,000 subscribers on the data offer (-200,000 in Q2), despite extensive special offers at competitors in Q3.
Oddo adds that while Iliad seems to have lost its status as a growth stock, the group is currently considering efforts that should enable it to enter into a new growth cycle.
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.