Telecom Italia: RBC Capital Markets cuts target price.
(CercleFinance.com) - RBC Capital Markets maintains its "outperform" rating on Telecom Italia, but has cut its target price on the stock from 1.
30 euro to 1.25 euro, citing high promotional activity.
In a research note, the Canadian broker says that the next six months are going to provide "clarity" on the strategy that Italy's biggest phone group is deploying in fibre and Iliad's impact on the market.
"Still we believe the fundamentals of the company are in the right direction," RBC writes in the report.
In particular RBC expects a re-rating of the shares, as Telecom Italia's broadband performance should continue to improve.
Copyright (c) 2017 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.
30 euro to 1.25 euro, citing high promotional activity.
In a research note, the Canadian broker says that the next six months are going to provide "clarity" on the strategy that Italy's biggest phone group is deploying in fibre and Iliad's impact on the market.
"Still we believe the fundamentals of the company are in the right direction," RBC writes in the report.
In particular RBC expects a re-rating of the shares, as Telecom Italia's broadband performance should continue to improve.
Copyright (c) 2017 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.