Telecom and cable company Altice Europe gets overbought signal from JPMorgan, which has again started tracking the share. In a report on French telecom companies, the bank is reducing its advice for Orange to neutral.
According to JPMorgan, it is clear that major changes are needed in the French telecom sector, given the 50 billion euro debt mountain that analysts are putting on companies. The only credible path to debt reduction for French telecom companies is growth, the market researchers said. According to them, price discipline is important. The first signs of growth would already be visible. In this context, JPMorgan prefers the companies Altice and Boygues, who both receive overweight advice.
Altice was 3.1 percent higher on Monday, around 10.15 am, at 3.98 euros. Earlier in the morning the stock stood at 6.3 percent profit, the strongest increase in more than a month.