Altice Europe: Barclays says 'underweight' but ups target
(CercleFinance.com) - While upping its target price for the Altice Europe share from 1.
50 euro to 1.90 euro, Barclays reinstates its "underweight" rating, after the telecom group published Q4 results that are "weak fundamentally".
"We remain skeptical of a sustainable return to growth in France,"the broker says, pointing out the presence “four ambitious players” on this market - where the group owns the operator SFR.
Barclays considers that the share price continues to incorporate an important option value for potential deals, albeit "With low prospects of a consolidation in France," and deems that the share's risk/reward remains "unattractive".
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.
50 euro to 1.90 euro, Barclays reinstates its "underweight" rating, after the telecom group published Q4 results that are "weak fundamentally".
"We remain skeptical of a sustainable return to growth in France,"the broker says, pointing out the presence “four ambitious players” on this market - where the group owns the operator SFR.
Barclays considers that the share price continues to incorporate an important option value for potential deals, albeit "With low prospects of a consolidation in France," and deems that the share's risk/reward remains "unattractive".
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.