UPDATE: JP Morgan Resumes BT Group at Overweght on Value, Safety
JP Morgan resumed coverage on BT Group plc (NYSE: BT) with an Overweight rating.
JP Morgan noted, "We view BT as a secure source of value, with few material risks to derail the investment case. It does slightly lack a catalyst (we expect Q3 results on 1 Feb to be in-line), although our expectation for content wholesale deals later this year would de-risk its content investment and should improve investor sentiment towards its ‘14/15 FCF guidance of around £2.5bn."
BT Group closed at $39.05 on Friday.
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