{"id":149716,"date":"2020-05-20T11:40:58","date_gmt":"2020-05-20T11:40:58","guid":{"rendered":"https:\/\/www.bnreport.com\/bt-shares-now-more-reasonable-versus-peers-but-risks-remain-says-deutsche-bank\/"},"modified":"2020-05-20T11:40:58","modified_gmt":"2020-05-20T11:40:58","slug":"bt-shares-now-more-reasonable-versus-peers-but-risks-remain-says-deutsche-bank","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/bt-shares-now-more-reasonable-versus-peers-but-risks-remain-says-deutsche-bank\/","title":{"rendered":"BT shares now \u2018more reasonable\u2019 versus peers but risks remain, says Deutsche Bank"},"content":{"rendered":"

BT Group PLC<\/a> (LON:BT.A<\/a>) is no longer a sell for Deutsche Bank<\/a>, but analysts still see a number of risks for the future.<\/p>\n

The German bank upgraded its rating to hold as the shares are now seen as \u201cmore reasonable versus peers\u201d, with the target price lifted to 125p from 110p.<\/p>\n

BTs commitment to rolling out its fibre broadband network to 20mln homes by mid-to-late 2020s is a good thing for the companys long-term future, the analysts said in a note to clients.<\/p>\n

\u201cA full fibre network will be more resilient and cheaper to maintain,\u201d they added, with the faster and further that BT builds the less likely it is likely to suffer market share losses.<\/p>\n

However, the delay in announcing this full-steam rollout has led to cumulative risks from overbuilding the network, a trend towards convergence and exposure from TV and business clients from Covid-19.<\/p>\n

Throw in the pension deficit, with the triennial review coming up at a time of weak asset values, \u201cand the combination has been damaging\u201d.<\/p>\n

Therefore, the analysts said they continue to be surprised at how positive consensus has been on BT shares during the slow strategic metamorphosis towards fibre and the implications for its funding, although theres little positive in a share price that has fallen from almost 500p at the end of 2015 to near 100p this month.<\/p>\n

\u201cWe see a number of risks for the future, particularly from the loss of Openreach's UK wholesale revenuesRead More \u2013 Source<\/a>
\n[contf]
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\n <\/p>\n

Proactiveinvestors<\/a><\/h5>\n

[contfnewc]
\n[contfnewc]<\/p>\n","protected":false},"excerpt":{"rendered":"

BT Group PLC (LON:BT.A) is no longer a sell for Deutsche Bank, but analysts still see a number of ri..<\/p>\n","protected":false},"author":1,"featured_media":149717,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[46],"tags":[],"class_list":["post-149716","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics"],"yoast_head":"\nBT shares now \u2018more reasonable\u2019 versus peers but risks remain, says Deutsche Bank - Business News Report<\/title>\n<meta name=\"description\" content=\"BT Group PLC (LON:BT.A) is no longer a sell for Deutsche Bank, but analysts still see a number of ri..\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/bt-shares-now-more-reasonable-versus-peers-but-risks-remain-says-deutsche-bank\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BT shares now \u2018more reasonable\u2019 versus peers but risks remain, says Deutsche Bank - 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