Can BT Group hold GBX 198 as Goldman Sachs sees 62% upside?

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Mykhailo Ihnatenko

08.09.2026

Can BT Group hold GBX 198 as Goldman Sachs sees 62% upside? — Holding GBX 198 could keep a recovery toward GBX 205 in play

BT Group shares failed to hold above GBX 205 and have returned toward the 200-day SMA near GBX 201. The GBX 198 area now becomes the main technical test for buyers.

BT-A price prediction

24H -0.13%

GBX 227.21

48H 0.05%

GBX 227.61

7D 0.47%

GBX 228.56

1M 11.16%

GBX 252.9

3M 11.58%

GBX 253.84

6M 28.49%

GBX 292.31

12M 15.89%

GBX 263.64

Detailed

Current price: GBX 227.5 0.2000 0.09%

Real-time Data 16:29

Daily range 223.70

226.45

Weekly range 208.30

229.00

Goldman Sachs highlighted BT Group as one of the most attractive high risk-reward ideas among European telecom companies. The bank set a GBX 330 price target, implying roughly 62% upside from current levels – the highest potential return among the major European telecom names included in its comparison.

Openreach remains a key part of the bullish thesis. Goldman expects further monetization of the full-fibre infrastructure to support stronger free cash flow, with its FY2027 FCF estimate around 20% above market consensus.

The high potential upside, however, comes with meaningful risks. Goldman specifically pointed to competition from alternative fibre networks, while BT’s elevated debt burden makes execution on cash flow targets particularly important.

GBX 198 becomes the key support for BT.A

The bearish case outlined earlier played out. BT shares failed to establish themselves above GBX 205 and corrected toward the 200-day SMA near GBX 201.

For today’s session, the main level to watch is GBX 198, where important horizontal support coincides with the 50-day SMA. If buyers can defend this area and push the price back above the nearest local levels, attention would shift toward GBX 205 again.

A decisive break and daily close below GBX 198 would tilt the short-term structure in favor of sellers. In that case, the next downside target would be around GBX 194.50.

Goldman’s upside case now depends on execution

Goldman Sachs’ GBX 330 target highlights substantial long-term upside, but the market is still demanding proof that BT can translate Openreach monetization into stronger free cash flow. With alternative fibre competition and debt remaining key constraints, execution will matter more than valuation alone.

In the near term, the technical picture is much simpler: GBX 198 is the level that needs to hold. A rebound from this area would keep GBX 205 in play, while a daily close below support would suggest that the current correction still has room to extend toward GBX 194.50.

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