(News Bulletin 247) – Berenberg announced on Friday that it had raised its price target on Orange, which it raised from 10.4 to 11.4 euros, while renewing its recommendation to ‘hold’ on the stock.
In a research note, the analyst recalls that the stock price of the telecom operator had appreciated by 6% following the presentation of its 2022 annual results and the holding of its investor day on February 16. last.
He points out that the stock has generally outperformed the sector since.
With the approach of the publication of the first quarter results, the intermediary recognizes that the case remains solid, but also says that he lacks enthusiasm in the face of the downward revisions which affect the market forecasts on the group’s operational performance at the level from its core market, France.
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