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Barclays cuts KCOM to equal weight

14 June 2016 13:53

Equity research analysts at Barclays Capital have downgraded their investment rating on telecoms company KCOM (LON:KCOM) to equal weight (from overweight), with limited upside to its unchanged 110 pence price target as the company undergoes a transition phase.

The broker highlighted that, following the successful disposal of its non-Hull network asset to CityFibre, the company "will overtly transition to IT Services in the non-Hull area, which, in our view will likely result in churn, somewhat offset by growth in new areas (such as the HMRC contract)".

At 1:52pm: (LON:KCOM) KCOM Group PLC share price was -1.75p at 107.5p

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