Iliad: Morgan Stanley adjusts target price
(CercleFinance.com) - Morgan Stanley has reinstated its "weight in line" (hold) recommendation on the Iliad share, having increased its target price for the share from 110 euros to 115 euros, having updated its forecasts for the telecom operator after its annual results and prior to a CMD.
"Iliad's top-line is poised to rebound quite sharply, driven by the expiry of French mobile discounts and the new Delta box," it said, adding that "A potential towers sale would lower debt, but FCF generation remains very weak."
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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.
"Iliad's top-line is poised to rebound quite sharply, driven by the expiry of French mobile discounts and the new Delta box," it said, adding that "A potential towers sale would lower debt, but FCF generation remains very weak."
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.