BT Group: UBS downgrades to 'neutral' after warning
(CercleFinance.com) - UBS has downgraded BT Group from "buy" to "neutral," after Britain's biggest telecoms company cut its outlook last week.
"While guidance may be conservative, it could take several quarters to restore investor confidence," the broker wrote in a note.
UBS also slashed its target price for the BT share from 310 pence to 210 pence.
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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.
"While guidance may be conservative, it could take several quarters to restore investor confidence," the broker wrote in a note.
UBS also slashed its target price for the BT share from 310 pence to 210 pence.
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.