© Reuters. BT Group at seven-year low as bullish Bernstein downgrades
- BT Group (NYSE:) is 1.8% lower on NYSE and at a seven-year low following a loss of faith from bullish Bernstein, throwing in the towel with a downgrade to Market Perform.
- The firm sees "signs of a business in turmoil" in dim guidance and a restructuring program, and shares are likely to stay at low levels for a while, the firm says. There's a "dramatic erosion" of earnings capacity and flat outlook for growth ahead. (h/t Bloomberg)
- The firm has cut its price target to £2.15 from £3.05; shares closed in London at £2.03 today.
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