Telekom Austria: Jefferies ups to "buy", says divi can double by 2023

Telekom Austria AG

01/10/2019 07:21

** Jefferies upgrades Telekom Austria  TELA.VI  to "buy"
from "hold", raises TP by 11% to EUR 8 
    ** The brokerage forecasts the company's dividend to double
by 2023, with the outlook supported by underappreciated
operating free cash flow in Austria and growth opportunities in
Central and East Europe (CEE)
     ** Jefferies says that Telekom Austria has translated its
exposure to CEE into strong service revenue and EBITDA growth
that is still underappreciated 
    ** "Increasing shareholder return should further alleviate
concerns of Telekom Austria entering new market with limited
synergies," the brokerage adds in a note
   

 ((Tommyalexander.lund@thomsonreuters.com))