BT Group: Credit Suisse cuts target price.

(CercleFinance.com) - Credit Suisse has cut its target price on BT Group from 340 pence to 320 pence, as it lowers its forecasts after Britain's biggest wireline telecom provider published its full-year results.


"The group's results highlighted that it is getting more difficult for BT and others to raise wireline prices," the brokerage firm said in a research note.

Credit Suisse points out that BT's customer communication of the April price increase made last January led to a sharp slowdown in BT's retail broadband adds (only 29,000 broadband adds in Q4 to end-March, the lowest for many years).

The broker - which was already assuming a substantial slowdown in BT consumer wireline price inflation - still believes a more significant deterioration in the UK economy could put further pressure on its forecasts.

Meanwhile, Credit Suisse maintains its "neutral" rating on the shares.

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