Deutsche Telekom: shares rebound after broker upgrade

(CercleFinance.com) - Deutsche Telekom are up over 4% on Thursday, one of the biggest winners in the DAX, following an upgrade by Jefferies analysts.


The US broker upgraded DT from "underperform," to "hold," after the stock fell by 35% since 20 February, and underperformed the European sector (-28%).

While the telecom sector has not traded defensively, Jefferies pointed out the telco business' "resilience," adding that stock picking might start with the carriers' credit profiles.

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