BT Group "ideally placed" says Barclays of its new teclo top pick

Barclays reinstated its coverage on BT Group with an 'overweight' rating and 600p price target."We see BT as ideally placed to drive positive revenue growth in a consolidating and converging telco market, monetizing data by exploiting its investments in fibre and long term evolution," said Barclays.The bank said this should drive 1.5% revenue growth and 3% in earnings before interest, tax, depreciation and amortisation compound annual growth rate over the next five years, with cash flow per share of 45p by FY2020 versus 33p in FY2015. It added said that following its deal to buy EE, BT now looks attractive in a European context. BT is Barclays' top pick in the European telecoms sector, replacing Deutsche Telekom.