Nov. 24, 2023 12:32 pm ET
The latest Market Talks covering Technology, Media and Telecom. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.
1110 ET – European telecommunications operators’ price increases over the past year are starting to pay off and revenue growth could pick up in 2024, Barclays analysts say in a research note. Telecom-service revenue rose across most major European markets in the third quarter, and growth accelerated compared with the first and second quarters, Barclays says. Revenue growth could come alongside lower energy costs next year, boosting earnings, but this improving outlook doesn’t seem to reflect in the sector’s market performance and valuation, Barclays says. The U.K. bank sees good investment opportunities in Deutsche Telekom, Royal KPN and Telenor. The pan-European Stoxx Europe 600 Telecom sector index is up 3.6% year to date, lagging behind the 8.2% gain in the broader Stoxx Europe 600 index. (adria.calatayud@dowjones.com)
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