Deutsche Telekom: Oddo BHF still says 'Buy'
(CercleFinance.com) - On Tuesday morning, an Oddo BHF analyst confirmed his "Buy" rating on the Deutsche Telekom share, as Softbank prepares to sell 2/3 of its stake in T-Mobile.
The broker says that Softbank announced its intention to sell between 2/3 and almost all of the 24% it holds in T-Mobile through several transactions. (...) Softbank will initially transfer 198 million T-Mobile shares directly to T-Mobile, which will offer them for sale via public offer and private placements, thereby raising 21 billion dollars.
DT will receive calls on an additional 100 million T-Mobile shares that it will be able to buy back over the next four years, Oddo adds, which believes that this transaction will enable the German giant to "retain control".
Oddo BHF thus confirms its target price of 17 euros, meaning 16% upside potential.
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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.
The broker says that Softbank announced its intention to sell between 2/3 and almost all of the 24% it holds in T-Mobile through several transactions. (...) Softbank will initially transfer 198 million T-Mobile shares directly to T-Mobile, which will offer them for sale via public offer and private placements, thereby raising 21 billion dollars.
DT will receive calls on an additional 100 million T-Mobile shares that it will be able to buy back over the next four years, Oddo adds, which believes that this transaction will enable the German giant to "retain control".
Oddo BHF thus confirms its target price of 17 euros, meaning 16% upside potential.
Copyright (c) 2020 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.