MARKET TALK: UBS Raises BT Group Target; Keeps At Sell

23rd Jul 2010 10:10

0910 GMT [Dow Jones] UBS raises BT Group (BT.A.LN) target to 120p from 100p, due to stronger '11 cost savings. As a result, '11 EPS forecast rises to 17.01p from 13.72p and '12 to 17.39p from 11.59p. However, thinks strategic pressures remain, namely with regards to gross margin, capital expenditure on fibre and pensions. Keeps sell recommendation. Shares -1.5% at 138.9p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 23, 2010 05:10 ET (09:10 GMT)