BKGR Boosts Maroc Telecom to Buy Rating, Targets DH 133 Amid 5G Rollout

BMCE Capital Global Research (BKGR) has upgraded its recommendation on Maroc Telecom to "Buy" and set a new price target of DH 133, implying a 29% upside from the current DH 103 level. The analyst highlights solid 2025 results, a commercial 5G launch, strategic joint ventures with Inwi, a steady dividend payout and a DCF‑based valuation that supports the higher target. The outlook for 2026 includes modest revenue growth, a robust EBITDA outlook and continued CAPEX geared toward expanding fiber and tower infrastructure, positioning Maroc Telecom as a stable, cash‑generating leader in Morocco’s telecom sector.

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