Morningstar Analyst Recommends France Telecom
Source: http://ceoblogger.wordpress.com/2008/08/07/morningstar-analyst-recommends-france-telecom/Posted on Thursday, August 7th, 2008 | In Current Market News, Market Commentary, Stocks to Watch
Contributed by: CEO Blogger (http://ceoblogger.wordpress.com) -
We are delighted to see France Telecom show some financial discipline and walk away from its offer to buy TeliaSonera. We had thought the offer was already very generous and were concerned FT would up the ante in order to consummate the deal after TeliaSonera rejected the offer as too low. We expect FT will continue to look for acquisitions, but expect an increased focus on faster-growing emerging markets.
At recent prices, Morningstar analyst Allan C. Nichols, CFA expects France Telecom SA stock to return 23% over the next three years, which is more than the market seems to be expecting.
Track Allan’s picks at:
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