Bernstein cuts Deutsche Telekom on T-Mobile U.S. risks; names BT top pick

Investing.com -- Bernstein downgraded Deutsche Telekom to "market-perform" from "outperform" and cut its price target to €28.10 from €37, citing uncertainty around a possible merger with T-Mobile US, intensifying competition in German fixed-line broadband and a neutral view on T-Mobile US from its U.S. team. Still guessing which names to buy? Our AI rebuilds its stock picks at the start of every month. The list is beating the market by 120%. See what's on it » The brokerage said a potential outright combination with T-Mobile US would give Deutsche Telekom full exposure to the U.S. operator's growth prospects, but questioned whether the transaction would generate sufficient industrial synergies to justify the deal.