BT Group: 'no rush' at current levels, says Morgan Stanley
(CercleFinance.com) - Morgan Stanley maintains its "equal weight" rating on the shares of BT Group, with a price target of 230 pence, citing a lack a catalysts.
"We acknowledge that BT shares appear tempting at these low levels, but see no rush," the broker points out in a note.
Morgan Stanley says upcoming Ofcom regulation should clarify BT's new capex plans and future dividends, meaning that an attractive stock price angle could emerge.
"But progress is slow and we remain on the sidelines for now," it adds.
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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.
"We acknowledge that BT shares appear tempting at these low levels, but see no rush," the broker points out in a note.
Morgan Stanley says upcoming Ofcom regulation should clarify BT's new capex plans and future dividends, meaning that an attractive stock price angle could emerge.
"But progress is slow and we remain on the sidelines for now," it adds.
Copyright (c) 2019 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.