Orange: UBS maintains neutral rating

(CercleFinance.com) - This morning UBS maintains its neutral rating on the Orange share, along with its 12-month target price of 14.
4 euros, which suggests limited upside potential of around 7%.

Analysts point out that the French telecom group reported Q4 2018 sales and adjusted EBITDA that exceeded expectations," mainly driven by Enterprise, Africa & ME and Europe (including Spain), while France was in line," the broker says in its report.

In France, "Promotional pressures started easing during the quarter (Q4, ed.); however, the competitive environment remained tough," UBS says, with Orange's growth weakening in this market relative to Q3.

UBS deems that the forecasts for 2019 that Orange provided are overall in line with the consensus, even though they suggest a slowdown in growth of Orange's EBITDA.



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