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MADRID, 24 Ene. (EUROPA PRESS) -
Bank of America (BoFA) predicts that, in general, European 'telcos' will increase their revenues and gross operating profit (Ebitda) in 2024, while predicting a reduction in investments (capex) in fiber by the companies. "leading" companies in this field, such as Orange and Telefónica, as exemplified by the financial institution itself in a report published this Wednesday.
Overall, the US bank's analysts consider that there are "encouraging" prospects for a "change of course" in European 'telcos'.
"We expect fiscal 2024 guidance to confirm a more constructive outlook for the sector's cash flows, supported by revenue and Ebitda growth, as well as reduced investments in more advanced fiber competitors. , such as Telefónica and Orange," highlights the Bank of America report.
Regarding the evolution of the price of some of the most prominent companies in the sector in Europe, the financial institution's recommendation is to 'buy' for Orange, Telefónica and Deutsche Telekom due to the "positive forecasts" for their cash flows. box.
Regarding the Spanish Cellnex, BoFA has indicated that the 'Capital Markets Day' that the company will hold in London on March 5 will be "key" for the company's prospects by "providing more clarity."
On the other hand, the North American bank's recommendation is 'neutral' on Telecom Italia and Liberty Global. Regarding the transalpine company, it has indicated that in the celebration of its 'Capital Markets Day' the new financial data of its ServCo division, which brings together its mobile network assets, service platforms and data centers, should be transferred.
As for Liberty Global, the North American entity is awaiting the strategic review of the British operator.
On the other hand, BoFA considers that Swisscom will have a "poor performance" because it observes "continued pressures in the domestic market that limit the Ebitda growth margin with capex levels still high."
