KPN: Barclays downgrades, following 'solid' performance

(CercleFinance.com) - Barclays downgraded its rating on KPN from "overweight" to "equal weight" on Wednesday, citing the share's "solid performance" over the past years.


In a note on European telecom companies, the broker pointed out that M&A speculation has returned to the KPN story following reports Swedish investment fund EQT might be looking to acquire the company.

Regarding fundamentals, KPN forecasts flat free cash flow in 2021 despite growing EBITDAaL, which puts it at the lower end vs peers, Barclays said, which has replaced the stock by Britain's BT as its new "top pick".

Copyright (c) 2020 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.