JAMES TETLEY | N+1 SINGER
The shares have been soft in recent weeks, hindered no doubt by commentary around proposed retail energy price controls after the next general election, which we believe Telecom would be largely insulated from by its supply arrangements. We expect the shares to recover on today's update.
ANDREW DARLEY | FINNCAP
We push our 12-month recommendation back up to buy (from hold) with an unchanged target of 1,400p, with Ofgem regulatory changes set to benefit the transparency of Telecom Plus’ existing pricing structure for both wholesale supply and retail delivery.
CHARLES HALL | PEEL HUNT
The second quarter saw an acceleration in the rate of new customers and services, with growth of 13 per cent and 19 per cent respectively on the prior year. There was also an increase in the number of distributors, which bodes well for future performance. We return to a buy recommendation.