LONDON, September 3 (newratings.com) - Analysts at ING Financial Markets downgrade Belgacom SA (Brussels:
BELG.BR -
news) (ticker: BX7) from
"buy" to "hold." The target price has been reduced from E26.5 to E26.0.
In a research note published this morning, the analysts mention that the company's share price has appreciated recently. Belgacom's shares are currently trading at a price that is 10% higher those of its European peers, the analysts say. The prospects of increasing competition needs to be taken into account while valuing the company's shares, ING Financial Markets adds.
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