Barclays upgrades BT to 'overweight'
BT Group
105.40p
16:40 19/04/24
0.67%
0.70p
Barclays upgraded its stance on shares of BT to ‘overweight’ from ‘equalweight’, lifting the price target to 160p from 130p as it took a more constructive view on the stock.
Fixed Line Telecommunications
1,784.13
17:09 19/04/24
0.90%
15.89
FTSE 100
7,895.85
16:59 19/04/24
n/a
n/a
FTSE 350
4,341.08
17:09 19/04/24
n/a
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FTSE All-Share
4,296.41
17:08 19/04/24
n/a
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The bank said its key reasons for taking a more positive view are a rapidly improving outlook for Openreach and fibre to the home, supported by a recent meeting with management, and de-risked consensus estimates with an attractive valuation.
At 0940 BST, BT shares were up 1.1% at 104.60p.