(Sharecast News) - Analysts at Numis upgraded their recommendation on shares of BT Group from 'sell' to 'reduce' after the share price moved to just 14% above their 140.0p target price.
Nevertheless, they predicted that so-called AltNets such as VM02 were set to consolidate "sooner rather than later", in order to gain scale, thus becoming a more meaningful threat to BT too.
"We believe BT remains materially overvalued, and that it is likely to be on the defensive for a long time," they added.
There was also the risk from VM02 wholesaling its wireline network and its proven ability to grow its network even as it was upgraded.
"BT is a tough investment no matter who runs or owns it."
BT (BT.A)13 Jun 2024 15:52
London close: Stocks fall amid renewed global jitters
(Sharecast News) - London markets exhibited a mixed performance on Thursday, as investors digested the latest policy announcement from the US Federal ...
