Nomura Securities Reiterates a 'Buy' on BT Group (BT) Ahead of Earnings Report; Top Pick In Telecom

Nomura Securities reiterates a 'Buy' on BT Group (NYSE: BT), PT 295p.

Analyst, J ames Britton, said, "Remains one of our top picks within the telecoms sector and we reiterate our Buy rating on the stock ahead of FY results on 10 May. We forecast FY revenues of GBP 19.35bn, which is broadly in line with consensus and adjusted EPS of 23.2p. In addition, we expect the company to report an acceleration of fibre take-up (101k Infinity adds), something which is central to our core investment thesis. In terms of valuation, the stock remains attractive, trading on 4.6x ’12E EV/EBITDA vs. the sector on 5.1x."

For an analyst ratings summary and ratings history on BT Group click here. For more ratings news on BT Group click here.

Shares of BT Group closed at $34.87 yesterday.

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