New Street Research - British Telecom (BT) New Street: BT (Buy): Price target upgrade - Well, at least we were impressed

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New Street Research

James Ratzer

New Street: BT (Buy): Price target upgrade - Well, at least we were impressed

Wow! What a day for BT. Stock opens up 9% on the back of better results, and new longer-term EBITDA guidance well ahead of consensus on the back of better cost-cutting and yet the stock closes down as the market still seems concerned on FCF generation.

29/10/2020 17 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.

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
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Pan European Telecom Services and Cable

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Analysts

James Ratzer

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New Street: BT (Buy): Price target upgrade - Well, at least we were impressed

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?

Microsoft vs. OpenAI: Implications for investors?

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

Supreme Court Upholds USF Framework but Reform Still Ahead

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