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Moneyback on Petrol:
Fixed Line Telecommunications(6530)
Closing Price Change
-62.90
Value
2,371.40
Broker snap: BT challenges known, JPM says
Date: Wednesday 02 Jul 2008
LONDON (ShareCast) - JP Morgan has raised its target price on the BT Group to 252p from 250p and kept its ‘neutral’ rating on the telecoms giant.
While BT faces structural challenges, these are mostly known, the broker says.“We believe BT does face major structural challenges ahead, including pension issues, the transition to mobile and unbundling,” JPM said.
“However, we think that short term negative catalysts are largely factored into consensus forecasts, and that earnings are set to be boosted by fewer headwinds for the next couple of quarters.”
