Down 8%, is BT’s share price a serious bargain at around £2?
Image source: BT Group plc
BT’s (LSE: BT.A) share price looks increasingly disconnected from its medium‑term earnings growth outlook, in my view.
The market is still trading on the short‑term optics of heavy fibre capex, regulatory noise and muted consumer demand. Yet the long‑term cash‑generation story is strengthening.
As the fibre build peaks, capex intensity falls and Openreach’s footprint expands, BT’s earnings profile should improve materially. And I believe this will power its share price much higher.
So, how high can it go?
Earnings growth potential
The consensus forecast of analysts is that BT’s earnings (‘profits’) will grow by an annual average of 14% to end-2028 at minimum. A…
