Advanced Television

BT favoured by Bank

November 2, 2021

It is a busy week for company results with one analyst describing this coming November 4th as “Super Thursday” given that BT and SES both announce their results with Liberty Global’s results being revealed the evening before.

Analysts at investment bank Jefferies, focusing on UK telco BT’s results, has issued a ‘BUY’ recommendation to clients.

Jefferies says that BT has been actively managing expectations over the summer and suggests that the market could be in for a number of announcements one of which could be a “limited footprint expansion with a financial partner [but] a Sky commitment is less likely”. However, the bank admits that the situation is uncertain.

The bank comments on the The Telegraph’s story on October 30th that BT will deliver its target £1 billion cost savings plan (announced back on March 23rd and confirmed by BT on November 1st) and had been achieved 18 months ahead of its original 2023 target date. The Telegraph talked about the BT Board remaining undecided on whether to announce its next-phase cost savings now or to wait until after Altice’s December 10th standstill expiry. There has been no mention of a fresh cost-cutting target.

“There is a pressing need for BT to be proactive,” says Jefferies. “Any cost savings upgrade needs to be connected to guidance. Moreover, we look for BT to provide visibility on Openreach FTTP uptake among non-BT ISPs now that Equinox pricing is live.”

Categories: Blogs, Business, Inside Satellite, Results, Telco

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