Telecom Italia: Berenberg upgrades savings shares to 'hold'
(CercleFinance.com) - Berenberg has upgraded its rating on Telecom Italia's savings shares from "sell" to "hold" while raising its target price from 0.
35 euro to 0.42 euro.
"At Telecom Italia's 2018 results, CEO Luigi Gubitosi said he wanted TIM "to be a normal company" with CEOs who complete terms, harmonious boards and regular dividends," the German broker pointed out.
"We applaud this aspiration and think management is broadly taking the right actions, but there is a long way to go", it added in a note.
Berenberg keeps a "hold" rating for Telecom Italia ordinary shares, with a target price of 0.42 euro.
TIM ordinary and savings shares are both listed on the Italian Stock Exchange.
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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.
35 euro to 0.42 euro.
"At Telecom Italia's 2018 results, CEO Luigi Gubitosi said he wanted TIM "to be a normal company" with CEOs who complete terms, harmonious boards and regular dividends," the German broker pointed out.
"We applaud this aspiration and think management is broadly taking the right actions, but there is a long way to go", it added in a note.
Berenberg keeps a "hold" rating for Telecom Italia ordinary shares, with a target price of 0.42 euro.
TIM ordinary and savings shares are both listed on the Italian Stock Exchange.
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.