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BT +5.5% as Berenberg upgrades to Buy

Feb. 23, 2018 9:37 AM ETBT Group plc (BT) StockBTBy: Jason Aycock, SA News Editor
  • BT Group (NYSE:BT) is up 5.5% out of the open after a boost to Buy at Berenberg, which sees clarity on its investment case ahead amid major reviews.
  • Drag will be reduced after regulator Ofcom completes its wholesale local access review, the firm argues, and currently sentiment toward telecom firms is "terrible." (h/t Bloomberg)
  • The company can benefit in a rising interest-rate environment that could shrink its pension deficit, and Berenberg sees scope for a return to revenue, EBITDA and free cash flow growth in 2019/2020.
  • BT ADRs have declined 17.7% on NYSE over the past 12 months.

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