Deutsche Bank Upgrades France Telecom (FTE) to Hold
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Price: $10.53 +0.48%
Rating Summary:
2 Buy, 5 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
2 Buy, 5 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade FTE Now!
Deutsche Bank upgraded France Telecom (NYSE: FTE) from Sell to Hold with a price target of EUR10.00 (from EUR10.20).
Deutsche analyst, said, "France Telecom reports 1H12 results on 26th July. Whilst we expect to see a sequential deterioration in financial performance (mainly due to French Mobile) we doubt the trends will deviate materially from market expectations or previously communicated guidance. And we expect management to reconfirm FY guidance for OpCF of “close to” EUR8bn (DB/cons EUR7.9bn). Mid-term guidance looks to be at risk, but we don’t expect this to be addressed with 1H results. In any case DB/cons expectations already anticipate a material downward revision. As a result, we see no reason to materially change our TP which is broadly in line with current trading levels."
For an analyst ratings summary and ratings history on France Telecom click here. For more ratings news on France Telecom click here.
Shares of France Telecom closed at $12.53 yesterday, with a 52 week range of $11.68-$21.01.
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Deutsche analyst, said, "France Telecom reports 1H12 results on 26th July. Whilst we expect to see a sequential deterioration in financial performance (mainly due to French Mobile) we doubt the trends will deviate materially from market expectations or previously communicated guidance. And we expect management to reconfirm FY guidance for OpCF of “close to” EUR8bn (DB/cons EUR7.9bn). Mid-term guidance looks to be at risk, but we don’t expect this to be addressed with 1H results. In any case DB/cons expectations already anticipate a material downward revision. As a result, we see no reason to materially change our TP which is broadly in line with current trading levels."
For an analyst ratings summary and ratings history on France Telecom click here. For more ratings news on France Telecom click here.
Shares of France Telecom closed at $12.53 yesterday, with a 52 week range of $11.68-$21.01.
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