Orange upgraded to Overweight from Equal Weight at Barclays

Barclays upgraded Orange to Overweight from Equal Weight with a price target of EUR 13.50, up from EUR 12. Most investors are skeptical that European telecom services names have much pricing power owing to a historical lack of revenue growth despite strong traffic growth over many years, the analyst tells investors in a research note. However, this would be changing, as rising inflation has resulted in renewed sector-wide attempts to drive pricing upwards, and early signs are positive, says the firm.