BT Group PLC shares can hit £3 reckons Barclays


() shares have the potential to reach 300p according to analysts at Barclays.

While the bank says this is its best-case valuation, as investors focus switches to OpenReach/fibre monetisation and inflationary retail there is the potential for the price to get there.

BT shares have already had a good run and are up 52% year to date, compared to 16% by the Telecom sector and the FTSE100’s 11%.

“Some of this outperformance, in our view, has been driven by improved visibility of returns at Openreach, following the Ofcom fixed-market review, and also clarity around the pension said Barclays.

“More recently focus has turned to M&A, with Altice owner Patrick Drahi taking a 12% stake, which has raised questions about the value and future of Openreach.“

Barclays though says its confidence about the consumer side has also picked up, especially in the pricing environment, which underpins its base case price target of 260p.

Shares today rose 1.5% to 205.6p.



Read MoreBT Group PLC shares can hit £3 reckons Barclays

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