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KCOM downgraded by Barclays

08 November 2016 14:19

Barclays Capital has downgraded its investment rating on KCOM Group (LON:KCOM) to 'underweight' from 'equal weight' on valuation grounds after the shares rose above its unchanged 110 pence per share price target.

Equity research analysts at the bank added: "We also note rising pension risk given recent moves in discount rates. We estimate the IAS19 deficit could be as high as £ 65m (£ 14m at Mar 14), with the actuarial funding deficit at March 2016 potentially £ 40-50m."

At 2:18pm: (LON:KCOM) KCOM Group PLC share price was -0.62p at 115.13p

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