Barclays downgraded its rating on OTE shares to “underweight” from “overweight”, Reuters reported, while cutting its price target to €18 from €20.
The UK broker’s new rating reflects a more cautious stance on OTE shares, with its price target cut by 10%.
The change from “overweight” to “underweight” indicates that Barclays now expects the shares to underperform the market or benchmark index.
Notably, a few days ago, coverage of the stock was initiated by Optima Bank, with a buy rating and a €22.50 price target.