Barclays sees revenue growth for OTE, ups to 'overweight'

Hellenic Telecommunications Organization SA

23/02/2024 09:42

** Barclays upgrades Greece's biggest telecoms operator
Hellenic Telecommunications Organization (OTE)  OTEr.AT  to
"overweight" from "equal weight" seeing revenue growth as the
company invests in next-generation technology
    ** "We would expect strong growth in the fibre penetration
in the coming quarters, helped by the return of subsidy
schemes," the broker says
    ** It sees OTE as "as a quality play" on the Greek telecoms
market, adding that the competitive environment is "relatively
benign" and rationally priced, which would support growth
    ** OTE posted a 21% rise in fourth-quarter profit to 141
million euros with its revenues up 5% year-on-year

 (Reporting by Antonis Pothitos)
 ((antonis.pothitos@thomsonreuters.com))