The BT (LSE: BT) share price has had a bumper week. It’s jumped a formidable 8.67% at a time when the FTSE 100 as an entire bumbled up simply 0.71%.

It isn’t laborious to see why. That’s down to the information that Indian telecoms conglomerate Bharti World, co-founded by Sunil Bharti Mittal in 1976, has simply accomplished the acquisition of a 24.5% stake in BT from France’s Altice.

Markets knew an settlement had been reached in August, however have been blissful to see it full. As CEO Allison Kirkby put it over the summer season, this “is a great vote of confidence in the future of BT Group and our strategy”.

Can this FTSE 100 inventory proceed to get well?

It actually is. I spent the final yr questioning whether or not to speculate just a few thousand kilos in BT shares. Bharti World has parted with $4bn. That makes it the one largest shareholder in Britain’s greatest broadband and cellular firm. Ought to I comply with go well with, however in my much more humble manner?

BT has been shorn of confidence since its shares peaked at slightly below 500p 9 years in the past. They have been idling at round 100p this April, having misplaced 80% of their worth peak-to-trough. Nonetheless, they’ve bottomed out and are up 25.99% during the last 12 months.

If I’d dived in and purchased BT shares earlier this yr, I’d have performed fairly effectively. Plus I’d have loved a trailing yield of 5.33% in addition.

That’s a disgrace however not the tip of the world. BT nonetheless appears good worth with a price-to-earnings ratio of simply 8.1. That’s comfortably beneath the FTSE 100 common of 14.2 instances.

It’s additionally enticing as measured by a price-to-sales ratio of simply 0.7. That means I’d solely pay 70p for every £1 of revenues. So what do the consultants say?

Market consensus surrounding BT continues to be bullish. Of the 12 institutional analysts following the enterprise, six label it a ‘strong buy’. One other three name it a ‘buy’, which implies two-thirds are in favour. Two say ‘hold’ and two have labelled BT a ‘strong sell’. 

Six analysts reckon BT is a ‘strong buy’

This numerous sentiment, from ‘strong buy’ to ‘strong sell’, can also be mirrored within the 12-month share price forecast.

The 12 brokers have set a median goal of 199.15p per share. If appropriate, that will see the shares climb 32.8% from at the moment’s 150p, as my desk reveals.

BT nonetheless has issues, although. On 7 September, it reported a 3% drop in interim revenues to £10.1bn and 10% drop in pre-tax income to £967m, largely as a consequence of weaker non-UK buying and selling.

The board nonetheless hiked the interim dividend from 2.31p to 2.40p, as free money flows jumped 57% to £700m. However I’m pondering this. If I can’t deliver myself to make a tiny dedication to BT regardless of the attentions of massive names just like the Mittel household and Mexican tycoon Carlos Slim, who additionally has a stake, it means I don’t actually imagine within the BT funding case. I’ve been tempted, simply not strongly sufficient. So as an alternative, I’ll look for a corporation I do imagine in.