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Sell BT, says investment bank amid Openreach concerns
Published: 12:30 25 Apr 2024 BST
BT Group PLC -
UBS has restated its 'sell' recommendation for shares in BT Group PLC citing concerns over its subsidiary Openreach, which manages the United Kingdom's digital network infrastructure.
The investment bank's latest analysis assesses the challenges the business faces in maintaining its dominant position in the domestic broadband market - and thinks could lose as many as one million lines in the financial year 2025.
The report goes on to highlight the increasing competition from alternative network providers, which are rapidly expanding their infrastructure.
Further exacerbating the situation is the potential for stricter regulatory oversight and moves to promote competition, that could hit profit margins.
UBS's price target for BT shares is 100p versus the current price of 105.25p (unchanged).
Hopefully UBS lose some cash on this blatant attempt to talk BT stock down.
Keep on topping up on the drops! ☀️👍
*but not bit
*seen not been
*naturally the law is NOT perfect, not naturally the law is perfect
Clearly I can't type today!
"I have thought for a long time now OFCOM, BT,s nemesis, has been behind all litigation, fines, court cases and share price destruction."
Well I think that is conspiracy theory nonsense... I get why these kind of things get traction & a bit of a following for a time period bit frankly I think that theory is codswallop.
Ofcom has to been to be giving a complaint by many thousands airtime & the due diligence checks and legal process to test if those claims being made are valid, or not... naturally the verdict can go either way depending on evidence provided by both parties to make, or fake, their case.
Naturally the law is perfect but it's the best system there is to test the validity (or not) of the claim(s) being made. We just have to await the outcome.
Do all UBS clients hang on to every word they say on BT?
It would appear not as the tenth largest shareholder in BT is
UBS Asset Management UK Ltd which owns 67 million shares on behalf of clients.
I have thought for a long time now OFCOM, BT,s nemesis, has been behind all litigation, fines, court cases and share price destruction. As there is a class action ongoing against BT, OFCOM derived, is it not time for a class action against OFCOM by BT shareholders? Citing OFCOM,s constant and vindictive attacks on BT.
You can bet your house that the GOV will get their full corporation tax if BT has to pay a fine. It will be share holders that get the s...ty end of the stick again.
MCAP is just arithmetic driven by the price which as you say gets swayed by all sorts of things.
I agree with the sentiment of Mulders post about EE and as a stand alone entity it’s probably still worth more than the BT MCAP at present.
The way the market views BT will only change if either BT plans come through with their promise which will likely take four or five years or in the absence of the possibility of a total sale of BT then a sale of assets including EE leaving the core Network Assets and Openreach as the new BT would release shareholder value of multiples of todays MCAP.
Unfortunately can’t see there’s a will to do that so LTH will have to put up with the paper losses or look elsewhere.
From the tone of the majority of this board I think most are patient .
i personally would buy more bt shares if i had the cash, page 40 on the attached shows arpu growth. jansen called openreach "an unstoppable machine"
so i fear for the talktalk retentions advisors job saying "a lot of calls going to youfibre" to customers, given that all calls are recorded and monitored (i hope he/she doesn't get a **********) .
this is a good read - just look at the revenue (table 3 page 49)..........interstellar, 55000 job cuts in the whole of bt by the end of the decade. results on the 16th may, openreach will shine again lets see what the other parts of bt do.
https://www.openreach.com/content/dam/openreach/openreach-dam-files/new-dam-(not-in-use-yet)/documents/regulatory-compliance/investor-brief-2023-online.pdf
The market doesn't care about MCAP
Market has far more (worrying) things to be concerned about and price shares on ....
I agree with UBS.
I recently cancelled my talktalk line for netomia/youfibre.
Price was cheaper, speeds were better.
When I was on the line to talktalk retentions the advisor said there had been a lot of calls going to youfibre.
This is a net loss for open reach.
They are having to roll out new infrastructure and sell the service for less.
I would personally not be buying BT.
BT paid £12.5Bn for EE alone, in 2015.
Market cap now just £10Bn for the whole company...
They clearly have a agenda its so obvious, many other banks disagree and we will have further updates from them shortly.
Just refreshed your chart fleccy, good idea I think and I prefer the black. Red jars a bit with me, never like to see red!
If had spare cash right now (I already spent what I had on another small tranche of BT stock) then I'd be buying up another lot... this stock imo is going to be a top performing equity this summer ☀️ - DYOR
Haven’t they’ve been fined for fraudulent behavior before?
Saw that earlier, UBS are working really hard to dent sentiment in BT.
Https://www.proactiveinvestors.co.uk/companies/news/1046118/sell-bt-says-investment-bank-amid-openreach-concerns-1046118.html
AAAAAAAAAAAAHHHHHHHHHHHHH!!!!!!!!!!!!!!!
The column values should automatically update as the price changes and the Total column will always show as the current date.
Changed to Black 😉
That's a good profit for AKO so, to date they're clearly right to be short.
I wasn't asking for a change, I just didn't want to make any assumptions. Thanks fleccy.
I made it red to stand out as the total, it has no significance and isn't meant to indicate a loss for AKO. Just for you I'll change it to a different colour. 😒
Fleccy
yes, but of course,shorters know in advance what they will have to pay on ex-div day....they no doubt have the cash from selling the borrowed shorts earlier on... and depending on general market sentiment will obviously want to make sure they can knock the price further after ex-div ..... as you say a basic ex-div deduction of the SP makes the div payment equal to the extra gain on the short "profit"
Fleccy, why is the last bar red?