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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Citi trims estimates on BT, reiterates 'buy' rating

(Sharecast News) - Citi has trimmed its fourth-quarter estimates for BT Group while reiterating its 'buy' rating.

In a note published on Friday, the bank said BT's third-quarter results had been in line, with Openreach coming in ahead but the Business division "missing significantly".

It continued: "The comparatives in the fourth quarter are tougher, especially for the business segment, so we lower our estimates to reflect -25% decline in earnings before interest, tax, depreciation and amortisation, versus -17% in the third quarter.

"The rest should be in line, but it does mean that growth could dip to slightly negative.

"The 2025 full-year has tougher pricing dynamics as we pass the anniversary of record increases last April. But operating expense pressures should also slightly ease, and restructuring effort at Business should also help.

"We look for marginally positive growth but one that may be more weighted in the second half.

"We reiterate our 'buy' rating."

As at 1230 GMT, shares in BT were up nearly 4% at 112.9p.

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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