BT Group: UBS still a seller - cuts target price
(CercleFinance.com) - UBS reinstates its "sell" rating on BT Group, having reduced its corresponding target price from 111 pence to 102 pence, representing downside potential of 28% for the British incumbent telecom operator's share, for which the broker deems the recent re-rating "overdone".
"Recent tax changes are net negative and Openreach stake sale/change of strategy unlikely near term", UBS says, which has cut its target price due to tax changes.
The market seems to be steering clear too - the share is down over 3.5% at about 136 pence on Monday morning.
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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.
"Recent tax changes are net negative and Openreach stake sale/change of strategy unlikely near term", UBS says, which has cut its target price due to tax changes.
The market seems to be steering clear too - the share is down over 3.5% at about 136 pence on Monday morning.
Copyright (c) 2021 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.