Iliad: Bryan Garnier adjusts target price.
(CercleFinance.com) - Bryan Garnier confirms its "buy" rating on Iliad and is raising its fair value for the stock from 220 euros to 255 euros, in a report written on telecom operators.
"With the Q1 earnings season coming to an end, we feel that although trends are improving, the French telecoms market remains quite unstable due to differing dynamics in FTTH, the possible turnaround at SFR and a war in contents," the broker says.
In this context, Bryan Garnier prefers Orange, “which offers strong guarantees in a troubled market,” and Iliad which it believes has the best growth profile. The broker remains cautious on Bouygues and SFR.
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