BT Group PLC (LSE:BT.A) is suffering from a dearth of good news, suggests Deutsche Bank, and its new chief executive has done nothing yet to alleviate the mood.
Full-year results are due on 16 May but don’t hold your breath for a reset of the agenda at the telco, is the German bank’s view.
Allison Kirkby is likely to 'double-down' on her predecessor’s strategy of fibre, costs and footprint.
BT has under-performed against its rivals, adds Deutsche Bank, possibly due to the inroads being made into its lines market share by new entrants (alt-nets), though there is a potential positive from stake-building.
Hold with a price target reduced to 130p from 145p is the bank’s view
Shares were up 1,9% to 104.5p.