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Trade idea: Score with BT
Joe Neighbour from Central Markets is looking to make a profit from BT Group, as its shares have performed "exceptionally well" over the last 12 months. He is impressed with BT’s move into sports coverage and thinks it is going to represent a “genuine threat" to Sky’s long dominance of high profile sports broadcasting.
BT has struck a three-year deal with Virgin Media to make its new sports channels available to the cable operator's subscribers. It has agreed to pay GBP 246 million per season to show 38 live football matches. BSkyB has the rights to 116 games per season.
He also adds that BT’s fixed line services runs through the backbone of Britain, and this makes the company's shares even more attractive. They have recently found support at around 324p.
As a result, Joe is looking to buy around 324p, is targeting a move towards 350p with a stop loss of 310p.
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Tags: broadcasting, bskyb, bt, bt fixed line services, bt group, central markets, equity strategy, football, football coverage, football rights, investing, investment, joe neighbour, news, premiership, shares, sky, sky sports, soccer, sports, sports coverage, telecommunications, telecoms, television, trade idea, trader, trading, tradingfloor.com, tv, tv rights, video, virgin, virgin media