New Street Research - British Telecom (BT) New Street: BT (Buy, 270p, +41%) Was 255p Price target up. Openreach value up. Dividend up

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New Street Research

Ben Rickett ...

James Ratzer

EUR 8822.00 For Business Accounts Only

New Street: BT (Buy, 270p, +41%) Was 255p Price target up. Openreach value up. Dividend up

BT has performed well so far YTD, but it still remains one of our top picks as we see further structural upside supported by Openreach. We increase our target price from 255p to 270p.

11/07/2022 1 EN

Underlying

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.

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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Analysts

Ben Rickett

James Ratzer

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New Street: BT (Buy, 270p, +41%) Was 255p Price target up. Openreach value up. Dividend up

EU TELCOS: What a recessionary scenario might look like

UK Telecoms Access Review What now happens beyond 2031? BT (Buy, £2.40, + 48%)

BT (BUY): Q3 25 - Our Take and model update post Openreach KPIs

T-Mobile: Quick thoughts following the 1Q25 call

Comcast Post-1Q25 Model Update

CMCSA: Quick thoughts following the call 1Q25

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