Deutsche Telekom: Berenberg cuts target price
(CercleFinance.com) - Berenberg said it was cutting its target price for Deutsche Telekom to 12.
7 euros, from 13.2 euros, as the US antitrust authorities are expected to shortly announce a decision on the proposed T-Mobile US/Sprint merger.
"Optimism that the deal will be approved has sent the T-Mobile US shares up by 16% since January," the broker wrote in a report.
"However, recent newsflow points to either US deal clearance with significant remedies or no deal," it said.
Berenberg maintained its "sell" rating on the stock.
With 32 billion dollars in revenue last year, T-Mobile US is Deutsche Telekom's biggest unit.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
7 euros, from 13.2 euros, as the US antitrust authorities are expected to shortly announce a decision on the proposed T-Mobile US/Sprint merger.
"Optimism that the deal will be approved has sent the T-Mobile US shares up by 16% since January," the broker wrote in a report.
"However, recent newsflow points to either US deal clearance with significant remedies or no deal," it said.
Berenberg maintained its "sell" rating on the stock.
With 32 billion dollars in revenue last year, T-Mobile US is Deutsche Telekom's biggest unit.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.