Iliad: Barclays raises target price

(CercleFinance.com) - Barclays believes that Iliad delivered strong second quarter results, exceeding expectations, despite the impact of the pandemic.


It has therefore confirmed its overweight rating on the share, having raised its target price to 195 euros (compared to 190 euros).

"Service revenue growth in France reflected Covid-related headwinds but was still well oriented (+1.6% yoy)... Guidance for 2020/21 OpFCF in France was reduced. In Italy, the current net adds trajectory and network roll-out suggest EBITDA break-even could be reached in 2021," the broker said.

"We raise our EBITDAaL estimates, driven by France and Italy".



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