BT Group: UBS cuts target price

(CercleFinance.com) - On Friday UBS has lowered its target price for BT Group from 240 pence to 165 pence, saying that the UK telecom operator's stock was short of "catalysts" in the near term.


"We factor in a more cautious outlook for Consumer/Enterprise, higher Openreach capex and a one third cut in the dividend," the broker says, which maintains a "neutral" rating on the stock.

The BT stock is currently up almost 0.4% on the London Stock Exchange, although is underperforming the flagship FTSE 100, which is up over 0.7%.



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