Deutsche Bank raised its price target by 10p to 150p a share for BT Group PLC (LSE:BT.A) and described it as a ‘lucky teclo’.
The update followed the company’s decision to raise prices.
“We have well-publicised views as to the longer-term efficacy of such price action into a cost-of-living crisis and a massive alt-net build programme,” Deutsche said.
“But BT's largest competitors are following suit on price rises (particularly on mobile) which should more than afray labour cost increases and sees our EBITDA expectations tick-up on stronger B2C and Openreach despite ongoing B2B weakness.”
The bank rates the stock, down 1.6% at 138.85p, ‘hold’.
Of the 18 banks and brokerages covering BT, 14 are positive on the stock.