Iliad: Barclays raises target price
(CercleFinance.com) - Barclays maintains its neutral (weight in line) rating on the Iliad stock, although has nudged up its target price from 105 euros to 108 euros, after Free's parent company slightly raised its EBITDA estimates.
"Notwithstanding mixed Q4 numbers, Iliad delivered a positive message for 2019 with an expectation of return to revenue growth in France as early as H1," the broker says, which does not expect a return to stability until Q4.
"Also, this assumes competition remains at current levels, which is not guaranteed considering that the four players have ambitious objectives for 2019," Barclays warns.
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.
"Notwithstanding mixed Q4 numbers, Iliad delivered a positive message for 2019 with an expectation of return to revenue growth in France as early as H1," the broker says, which does not expect a return to stability until Q4.
"Also, this assumes competition remains at current levels, which is not guaranteed considering that the four players have ambitious objectives for 2019," Barclays warns.
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.