New Street Research - British Telecom (BT) BT (Buy, 185p, +26%) Was 180p BT FCF numbers to rise materially. Our Quick Take.

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New Street Research

James Ratzer

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BT (Buy, 185p, +26%) Was 180p BT FCF numbers to rise materially. Our Quick Take.

The UK Government has just announced that the 130% super-deduction tax relief that was due to expire next month will be replaced by 100% capital allowances for at least the next three years. This might sound technical, but our initial estimate is that this could lift consensus FCF by >30%.

15/03/2023 1 EN

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British Telecom

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New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

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James Ratzer

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BT (Buy, 185p, +26%) Was 180p BT FCF numbers to rise materially. Our Quick Take.

BT (Buy, 265p, +47%) Was 240p Upside beyond the mythical £3bn FCF target

BT (Buy, £2.40, +46%) Dig a bit deeper and it is better than the headlines

BT (Buy, £2.40, +45%) TNT Sports exit - what are the financial implications?

SATS, Carr, and the Art of the No Deal…Yet

Supreme Court Upholds USF Framework but Reform Still Ahead

CMCSA quick hit: Comcast continues to make the right pricing moves

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