(CercleFinance.com) – Bank of America raised its target price on Orange on Wednesday, raising it from 7.95 to 8.25 euros, in view of the arrival of Christel Heydemann as CEO, scheduled for April 4 next.
In a research note, the US intermediary says it has identified five areas of concern among investors, the next resolution of which could improve market sentiment around the stock.
According to BofA, it is a question of (1) providing visibility on capital expenditure, (2) displaying more ambitions in mobile towers, (3) selling Orange Bank, (4 ) to separate from the money transfer subsidiary Orange Money and (5) to exercise discipline in the allocation of capital.
Despite all these elements, the broker still says it is ‘cautious’ about the group’s fundamentals and renews its ‘underperformance’ opinion on the stock, confirming the negative opinion it has been posting since December.
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