Iliad: Oddo a buyer, despite 'disappointing' interim results
(CercleFinance.com) - An Oddo BHF analyst today said that he is maintaining his "buy" rating on the Iliad stock, with a target price of 300 euros, despite interim results that are considered as "disappointing".
Above all, the broker notes a defensive strategy that marks a break in the group's history, which is facing a big loss in its number of mobile and landline users, a potential new delay in the arrival of the new box and a reduction in its guidance for 2020, it now expecting Operating FCF of 1 billion euros in France, vs. "over 1 billion euros" previously.
The fact that the (customer) base has stabilised in July and August is good news, although it is still not enough when we look at new "back to school" offers from competitors, such as Red, which offers 20Go for 5 euros (no time limit), or Sosh (for 12 months) and Bouygues, which has just launched an unlimited offer for 20Go at 4.99 euros. The fact that it has not matched the offering is new for Iliad, which was previously an aggressive operator, Oddo BHF notes.
Copyright (c) 2018 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.
Above all, the broker notes a defensive strategy that marks a break in the group's history, which is facing a big loss in its number of mobile and landline users, a potential new delay in the arrival of the new box and a reduction in its guidance for 2020, it now expecting Operating FCF of 1 billion euros in France, vs. "over 1 billion euros" previously.
The fact that the (customer) base has stabilised in July and August is good news, although it is still not enough when we look at new "back to school" offers from competitors, such as Red, which offers 20Go for 5 euros (no time limit), or Sosh (for 12 months) and Bouygues, which has just launched an unlimited offer for 20Go at 4.99 euros. The fact that it has not matched the offering is new for Iliad, which was previously an aggressive operator, Oddo BHF notes.
Copyright (c) 2018 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.