Orange

Morgan Stanley downgraded Orange to "Underweight" and cut the price target to €15, saying political uncertainty, stronger competition in Spain and rising debt could curb earnings growth. The bank sees key share-price drivers for Orange as largely exhausted and expects below-average returns over a 12–18-month horizon. The downgrade contributed to profit-taking in the European telecom sector, amplified by weakness in US telecom stocks. » Mere på finanzen.net

European markets gave ground on the big expiry day and the EuroStoxx 50 fell 0.55 percent. Telecom stocks were the weakest sector after Morgan Stanley cut Orange to underweight, triggering profit-taking; Orange fell 4.7 percent, Deutsche Telekom 3.5 percent. Nestlé lost 2.1 percent due to temporary external administration in Russia, while technology stocks such as ASML provided support, up 1.1 percent. » Mere på finanzen.net

Deutsche Telekom shares drop around 3.5% and are the top loser in the DAX after a sharp analyst downgrade of Orange weighed on the telecom sector. Morgan Stanley cut Orange’s rating citing political uncertainty in France, stronger competition in Spain and rising debt, which sparked sector-wide selling. Technically, the price has moved below the 50-day line and the lower boundary of the short-term sideways trend, worsening the chart picture. » Mere på deraktionaer.de

Morgan Stanley lowered its rating for Orange to "Underweight", citing political uncertainty, stronger competition in Spain and rising debt as risks. The new price target of €15 is the lowest among analysts. The news prompted profit-taking in the sector; shares of Orange, Deutsche Telekom, BT and Vodafone fell sharply. » Mere på finanzen.net

The EU Commission has approved the acquisition of Polish network operator Nexera by Orange and the fund APG. The parties announced the purchase in December; the transaction value is 1.5 billion złoty (approx. USD 406 million). The Commission saw no competition-law concerns, as the transaction has only limited effects on the markets concerned. » Mere på de.investing.com