Deutsche Telekom: UBS still a buyer
(CercleFinance.com) - The analyst believes that the revaluation can continue despite weaker EBITDA in the second quarter.
He confirms his Buy recommendation, with an unchanged target price of E27.6, representing 16% upside potential.
"German EBITDA growth to slow to +1.0% in Q2 but rebound to +4.6% in Q3 given phasing of wage costs. No change to FY estimates", UBS says.
The Bonn-based group - which said that it had posted 'record' profits in Europe in Q1 - posted 1.6% organic sales growth to E27.9bn.
It also confirmed that it is targeting FY Ebitda of E42.9bn, representing 6% growth over 2023.
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