BT group: UBS maintains sell rating, but raises TP
(CercleFinance.com) - UBS maintains its 'sell' rating on BT Group shares, although has increased its target price for them from 108p to 130p (current price: 173p, +1%), with its target price suggesting downside potential of 24% for the UK telecom operator's shares.
The broker says that positive catalysts have already come into play, with "weaker operating trends and FCF downgrades yet to be reflected in shares". It also considers the stock's valuation expensive on a 2% EFCF yield.
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