Morgan Stanley raised the firm’s price target on BT Group (BTGOF) to 240 GBp from 225 GBp and keeps an Overweight rating on the shares. The firm moved BT to Top Pick status alongside DT and Swisscom. Higher near-term capex should translate into a faster free cash flow growth as capex tails off significantly and BT completes its fiber project, the analyst tells investors in a research note.
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