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BT Group: shares inch up after broker upgrade

(CercleFinance.com) - BT Group shares are up over 2%, after UBS upgraded the British telecom giant from "neutral" to "buy," saying the company's overhangs are now priced in.

"Concerns over FTTH, the pension deficit and Premier League are priced in, and we see a series of potentially positive catalysts over the coming quarters," the broker said.

UBS has raised its target price for the BT share from 310 pence to 330 pence.

After these comments, BT shares were up 2.3% at 274.1 pence, outpeforming a 0.1% fall in the FTSE 100 index.

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