Citi upgrades Orange to 'buy' on a low-risk investment case

Orange SA

06/01/2026 08:03

** Citigroup upgrades French telecommunications group Orange ORAN.PA to "buy", citing low risk and higher potential for reward over the coming months

** Broker points to upcoming Capital Markets Day on February 19 and the completion of its Spanish MasOrange joint venture in H1 2026 as potential positive drivers

** Citi also sees potential for a previously rejected consortium bid for French rival SFR to be revisited

** The firm raises its PT by nearly 13% to 15.8 euros, calling Orange "a low-risk investment case with potential positive catalysts"

** The stock gained almost 50% in 2025, and ended at 14.155 euros on Monday

** Out of 20 analysts that cover the co, 14 rate the stock "strong buy" or "buy,"​ and six rate it "hold - data compiled by LSEG

($1 = 0.8522 euros)

 (Reporting by Jerome Terroy)

 ((Dimitri.rhodes@thomsonreuters.com))