New Street ups Sunrise Communications to 'neutral' on restructuring plan

Sunrise Communications

23/09/2026 08:52

** New Street Research upgrades Sunrise Communications SUNN.S to "neutral" from "reduce", citing the Swiss telecom operator's multi-year transformation plan that could include hundreds of job cuts
** The broker says the planned reduction of 450 full-time equivalent positions translates to around 16% of Sunrise's workforce and mainly targets back-office staff
** It estimates the net impact to be lower, with a roughly 10% net FTE reduction and an EBITDA benefit of around 50 million Swiss francs ($61 million) from 2027 onwards
** New Street says the move shifts its valuation for the stock to "2% upside from -13% downside before", as it raises price target to 41 francs from 35 francs
** As of Tuesday's close, the stock was down 5% YTD at 40.32 francs per share
($1 = 0.8223 Swiss francs)

(Reporting by Isabela Kruczynska)
((Isabela.Kruczynska@thomsonreuters.com))