KPN: BarCap upgrades to 'Overweight'
(CercleFinance.com) - Barclays Capital (BarCap) has upgraded its rating on the KPN stock to "overweight," having raised its target price from 2.
8 euros to three euros, saying it "is currently unique amongst EU telecoms by virtue of its material upcoming supportive catalysts".
The broker thus points to the group's investor day scheduled for 28 November, which it believes will reassure investors about medium-term capex, and thinks that management will reconfirm its shareholder returns priorities.
"The conclusion of the Tele2/T-Mobile EC merger process at the end of November should deliver long hoped-for market repair regardless of the deal outcome," BarCap continues.
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.
8 euros to three euros, saying it "is currently unique amongst EU telecoms by virtue of its material upcoming supportive catalysts".
The broker thus points to the group's investor day scheduled for 28 November, which it believes will reassure investors about medium-term capex, and thinks that management will reconfirm its shareholder returns priorities.
"The conclusion of the Tele2/T-Mobile EC merger process at the end of November should deliver long hoped-for market repair regardless of the deal outcome," BarCap continues.
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.