Orange: Crédit Suisse confirms rating on share
(CercleFinance.com) - Credit Suisse has confirmed its outperform rating on the Orange share with a target price of 13.
5 euros (46% upside potential).
The analyst believes that Orange still has some difficult quarters ahead, although he is more positive over the medium term.
"The company still faces a challenging Q3 20 (where we expect a -3% y/y EBITDA decline...). Operationally France (55% of EBITDA) is performing well, but fixing Spain (13%) is harder. An eventual stabilization of Spain would be a clear positive," the broker says.
"We believe that Orange could also improve FCF generation by accelerating cost-cutting".
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