Thursday, December 2

Telephone. The 4 euros open the door of paradise


Telefónica was very close to breaking the barrier of 4 euros on Friday. The value touched 3.99 euros, but finally closed at 3.97 euros.

The operator made headlines in the final stretch of the week for two reasons. The first, due to the rumors of consolidation in the telecom sector. This Thursday, the CFO (chief financial officer) of Orange, Ramón Fernández, said that “if in Spain there is a good possibility of concentration that affects us directly, we will consider it.”

These statements join others from Vodafone, who said he was looking for “consolidation opportunities in Spain” this week.

The ruling of the National High Court

Likewise, Telefónica learned of a ruling from the National Court whereby the Treasury has to return 1,000 million euros to the operator as a fine and late payment interest, although it will not have short-term effects on the company’s valuation.

The point is that investors look again at the company directed by Álvarez-Pallete, in case it manages to break up the barrier of 4 euros.

In the session this Friday he tried, but could not. If he succeeds in future sessions, he would open the door to paradise. “It will be placed in a good situation to find the zone of annual maximums,” he points out. the analyst of the magazine Inversión, Josep Codina.

A 10 percent appreciation until the end of the year

“It could even attack the area of ​​4.40 euros, which would lead to an interesting revaluation of practically 10 percent between now and the end of the year,” he adds.

The Bloomberg consensus gives the value a potential 17 percent for the next twelve months. The target price is 4.62 euros.



www.finanzas.com

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