UPDATE: JP Morgan Upgrades BT Group to Overweight on Relative Attractiveness
JP Morgan raised its rating on BT Group (NYSE: BT) from Neutral to Overweight as the company appears relatively more attractive than European incumbents.
JP Morgan commented, "We upgrade BT to Overweight (from Neutral) due to the relative attraction we see vs Euro incumbents.. We believe BT's forecast risk is lower than the sector's, given its exposure to the UK, fixedline, its lack of exposure to spectrum auctions, and as its fibre rollout plans are already well known and in forecasts (with early proof of monetisation)."
BT Group closed at $35.17 on Tuesday.
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