“We are upgrading our investment stance to a Buy recommendation on GO, with a 12-month price target of €4.70. GO is a defensive stock, given that it operates in the telecommunications industry, which is relatively less volatile than other industries. Moreover, the business model is not expected to experience shocks in the foreseeable future and is anticipated to continue on its positive trend. GO is currently trading in-line with its 5-year average of 21.4x, despite the expected special dividend following the 49% sale of BMIT and the potential growth of its investment in Cyprus.” Read our full report HERE.