Category Archives for "Telecom"

France Telecom (FTE-FR): Growth rater update post FY11 results – still a value trap

France Telecom (FTE-FR) Share Price: €11.6 Target Price: €9.9 Upside: -15% Recommendation: SELL EVENT: FY11 results released today. Revenues were in line with consensus at €45.3bn (-1.6% underlying; -1.7% in Q4), but with near misses for EBIT (€7.9bn vs €8.3bn consensus) and EPS (€1.46 vs €1.53 consensus). EBITDA declined by an underlying -4.8% to €15.1bn […]

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