UPDATE: J.P.Morgan Upgraded BT Group Following Exclusive League Rights

In a report published Sunday, J.P.Morgan Cazenove analyst Carl Murdock-Smith upgraded

from Neutral to Overweight. BT Group won exclusive Champions and Europa League rights for 38 games per season from '13/14 to '15/16 for c£299m pa. Murdock-Smith commented, "We see this as: (1) a driver to return to topline growth; (2) evidence that Sky's hold over content is changing. BT has left its financial guidance unchanged, despite the addition of the rights, suggesting either immediate payback (unlikely, albeit likely wholesale deals will help) or an implicit underlying upgrade." BT Group has also recently announced that they will launch a new football- focused channel called BT Sport. BT Group closed at $59.92 on Friday.