BT (Buy, £2.35, +68%) Was £1.95 Revisiting the Openreach story: Target up to £2.35
Given the moving dynamics in the UK broadband market, we revisit all our bottom up assumptions for Openreach coming away more positive on the longer-term upside in the asset, despite some near-term headwinds from line losses. This remains a conviction Buy for us and we run through all our key assumptions and views in this note, and also the potential impact for VMO2.
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.
New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:
- Pan European Telecom Services and Cable
- US Telecoms, Cable, Satellite and Towers
- Global Emerging Market Telecoms
- Japan Telecoms
- Asian Internet
- Pan European Healthcare
- Global healthcare thematic research
We provide debt research on:
- Pan European Telecom Services and Cable
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