PARIS, June 19 (Reuters) – Numericable, SFR Action signs the largest increase in the SBF 120 Friday at the Paris Bourse, supported by a note from Kepler Cheuvreux has raised its earnings forecasts and advisable to arbitrate in favor of the security relative to the parent Altice.
At 9:53, the title ahead 2.78% to 47.535 euros, against a gain of 0.83% at the same time for the SBF 120. Simultaneously, Altice yields 0.04%.
Kepler advises alleviate Altice and buy Numericable, SFR, believing that it is the best option to play market consolidation French telecoms.
“The consolidation remains uncertain but is still possible, accretive and financially feasible,” Judge through in his note.
Everything will depend on the ability of Bouygues Telecom , a subsidiary of the Bouygues group, to generate operating cash flow, consider the broker.
Given their new expectations of results, the broker raised its price target from 62 to 63 euros on the title while specifying that this estimate does not include any premium M & A.
In case of redemption of Bouygues Telecom, Numericable-course SFR could earn an additional 13 euros, said the intermediary.
The French telecoms sector is also bustling Friday by announcing the launch of auctions for frequencies of 700 MHz, with a minimum price of 416 million euros for each of the six blocks to be awarded .
Bouygues gives 0.36%, while 1.1% Orange Iliad, parent company of Free, gives up 0.05%. (Alexandre Granier Boksenbaum-)
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