JP Morgan downgrades BT Group

JP Morgan cut its recommendation and target price on shares of telecommunications services provider BT Group due to the large number of material 'headwinds' which the company was facing.

The company was expected to run into a large number of headwinds over the coming 12 to 18 months, including in terms of the number, complexity and potential negative impact on investor sentiment.

That, analysts at the broker said, would keep investors´ appettite 'subdued' over the next 12 to 18 months.

"Ongoing efforts to realise operating efficiencies, synergies from the integration of EE and trading momentum provide comfort in the outlook for earnings, analyst Matthew Bloxham said in a research note sent to clients.

JP Morgan downgraded its view on Segro´s stock to neutral, while paring its target price from 490p to 440p.