Bouygues Falls; Jefferies Sees Telecom Ebitda Missing Estimates
2014-08-13 12:13:38.972 GMT
By Sam Chambers
Aug. 13 (Bloomberg) -- Bouygues is worst performing stock
in Cac 40 today, falling as much as 2.8% heading toward its 13th
daily decline over last 14 sessions.
* Jefferies (hold): 2Q Telecom Ebitda may fall ~34% y/y due to
ongoing negative effect of customer repricing, compounded by
higher marketing costs
* Upside case from a sale and carve up of Bouygues Telecom
now feels distant
* As economy improves, co.’s construction business may
find itself executing on work that was secured at lower
prices during downturn
* Keeps hold rating and lowers PT by 17% to EU25 (~8%
discount)
* Bouygues scheduled to report 2Q results on Aug. 28
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To contact the reporter on this story:
Sam Chambers in London at +44-20-7673-2021 or
schambers7@bloomberg.net
To contact the editor responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net
2014-08-13 12:13:38.972 GMT
By Sam Chambers
Aug. 13 (Bloomberg) -- Bouygues is worst performing stock
in Cac 40 today, falling as much as 2.8% heading toward its 13th
daily decline over last 14 sessions.
* Jefferies (hold): 2Q Telecom Ebitda may fall ~34% y/y due to
ongoing negative effect of customer repricing, compounded by
higher marketing costs
* Upside case from a sale and carve up of Bouygues Telecom
now feels distant
* As economy improves, co.’s construction business may
find itself executing on work that was secured at lower
prices during downturn
* Keeps hold rating and lowers PT by 17% to EU25 (~8%
discount)
* Bouygues scheduled to report 2Q results on Aug. 28
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Sam Chambers in London at +44-20-7673-2021 or
schambers7@bloomberg.net
To contact the editor responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net