Market Overview

UPDATE: Bank of America Downgrades BT Group plc to Neutral on Cost and Revenue Headwinds

Share:
Related BT
Mid-Afternoon Market Update: Crude Oil Up 2%; Supercom Shares Drop After Q1 Results
Ciena Corporation's Exposure To Brexit Fallout May Be Less Than Initially Suggested
Wall Street Breakfast: Futures Silent Ahead Of Fed Meeting (Seeking Alpha)

Bank of America downgraded BT Group plc (NYSE: BT) from Buy to Neutral and lowers the price objective to $41.87.

Bank of America noted, "BT has been a turnaround situation, with management - successfully so far - turning around free cashflow in its Global Services division and defending its traditional revenues against tough competition. The company has aggressively reduced headcount, however cost cutting will become harder to achieve. With revenues not reaching an inflection point yet, management may now prioratise projects to accelerate revenue growth (higher capex or opex), potentially putting pressure on FCF generation."

BT Group plc closed at $39.88 on Monday.

Latest Ratings for BT

DateFirmActionFromTo
Jun 2016MacquarieUpgradesUnderperformNeutral
Jun 2016CitigroupUpgradesNeutralBuy
Jun 2016Credit SuisseDowngradesBuyNeutral

View More Analyst Ratings for BT
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Downgrades Analyst Ratings

 

Related Articles (BT)

View Comments and Join the Discussion!