BT share price forecast: half-year results ahead

BT Group is a UK telecommunications company whose shares went ex-dividend on 6 August 2026, as Ofcom reviewed a proposed Openreach fibre discount scheme. Explore third-party BT.A price targets and technical analysis. Past performance is not a reliable indicator of future results.

By Dan Mitchell5 minutes ago

Photo: Shutterstock

BT Group plc. (BT.A) was trading at £1.96 in early Monday afternoon dealings, as of 2:06pm UTC on 10 August 2026. Past performance is not a reliable indicator of future results.

The shares went ex-dividend on 6 August 2026 for BT's 5.87p (£0.0587) final payout, a mechanical adjustment that typically reduces the quoted price by the dividend amount on the ex-date (Interactive Investor, 3 August 2026). The market backdrop also included regulatory scrutiny of Openreach's commercial terms. On 28 July 2026, Ofcom proposed blocking a new fibre discount scheme, stating that the pricing plan could undermine competition from rivals such as CityFibre and Hyperoptic. The consultation remains open until 27 August (Ofcom, 28 July 2026). Meanwhile, UK interest rates remained another consideration, with the Bank of England having voted 6 to 3 to hold its benchmark rate at 3.75% at its meeting ending 29 July 2026 (Bank of England, 30 July 2026).

Third-party BT Group outlook: Ofcom review

As of 10 August 2026, third-party BT share price predictions point to a wide range of possible 12-month outcomes. These figures represent analyst price targets or consensus estimates and are not guarantees of future performance.

Citi (individual broker view)

Citi maintains a Sell rating and has lowered its 12-month BT.A price target to £1.65 from £1.75, with the target action dated 3 August 2026. The view reflects Citi's assumptions about the group's future operating and market conditions (MarketWatch, 6 August 2026).

TipRanks (analyst consensus)

TipRanks places BT.A's average 12-month target at £2.24, with estimates spanning £1.50–£3.10, based on seven analysts tracked during the preceding three months. The spread illustrates how assumptions about BT's future earnings, cash flow and valuation can differ (TipRanks, 7 August 2026).

S&P Global (analyst consensus)

S&P Global shows a Hold consensus and a £2.20 average one-year BT.A target, with a £1.43 low, £2.22 median and £3.30 high. The aggregation incorporates estimates from 16 analysts, again showing a broad range of expectations for the share price (Stock Analysis, 10 August 2026).

Berenberg (individual broker view)

Berenberg reiterates a £3 BT.A target in a note dated 14 July 2026, following an earlier increase from £2.50. The target reflects the bank's forward-looking assumptions about consumer trading trends and BT's operating trajectory (The Twelfth Magpie, 20 July 2026).

Overall, the forecasts span £1.43–£3.30, while the two cited consensus averages sit near £2.20–£2.24. The range reflects differing assumptions about BT's operating performance, consumer trends, cash generation and valuation.

Predictions and third-party forecasts are inherently uncertain, as they cannot fully account for unexpected market developments. Past performance is not a reliable indicator of future results.

BT latest and upcoming earnings

BT Group published its most recent trading update, covering the quarter to 30 June 2026, on 23 July 2026. The company said it had made 'a solid start to the year,' reporting quarterly revenue of £4.3bn, flat year-on-year, and adjusted UK service revenue of £3.8bn, down 1% (BT Group Newsroom, 23 July 2026).

Reported profit before tax fell 4% to £505m, which BT attributed to higher finance costs, partly offset by lower restructuring charges. Operationally, Openreach recorded its highest quarterly net additions of full-fibre broadband lines, adding 574,000 net customers in the quarter, while the fibre-to-the-premises (FTTP) footprint reached 23.4m premises (Reuters, 23 July 2026). BT said it remained on track to reach 25m premises by December 2026 (BT Group Newsroom, 23 July 2026).

The company also reconfirmed its full-year FY27 and multi-year financial outlook, including a normalised free cash flow target of approximately £2.0bn for the year (RTT News, 23 July 2026).

Attention now turns to BT's second-quarter and half-year results for the period ending 30 September 2026, which the company's own financial calendar lists as scheduled for 5 November 2026 (BT Group Investors, 10 August 2026).

BT.A share price: technical overview

As of 2.06pm UTC on 10 August 2026, the BT.A share price trades at 195.69p (£1.9569), below its 20-, 50-, 100- and 200-day simple moving averages (SMAs), at approximately 199p (£1.99), 197p (£1.97), 208p (£2.08) and 199p (£1.99) respectively, according to TradingView data.

The 20-day average stands at 198.57p (£1.9857), above the 50-day average of 196.98p (£1.9698). However, the current price remains below both averages as well as the wider SMA range. The Hull moving average (9) is also near 198p (£1.98), placing several shorter-term technical reference levels just above the current price.

Momentum indicators provide no consistent directional signal. The 14-day relative strength index (RSI) is at 45, below its neutral 50 midpoint, while the moving average convergence divergence (MACD) level is marginally positive at 0.81. The stochastic %K is at 50.44 and the Williams %R at -66.47. The 14-day average directional index (ADX), at 16.91, also suggests that neither an upward nor downward trend is firmly established.

Above the current price, the classic pivot point at 197.23p (£1.9723) is the nearest reference level, followed by R1 near 210.77p (£2.1077), according to TradingView pivot data. Below it, the classic S1 level sits at 187.77p (£1.8777). The 20- and 200-day SMAs around 198p–199p (£1.98–£1.99) also remain above the current price (TradingView, 10 August 2026).

Technical indicators can help describe recent price behaviour, but they do not predict future movements with certainty. This technical analysis is for informational purposes only and does not constitute financial advice or a recommendation to buy or sell any instrument.

BT share price history (2024–2026)

BT.A’s share price reached £1.31 on 7 November 2024 during a period when investors were considering network investment costs and competitive pressure in UK broadband. The price then rose through 2025 as the company reported progress on cost cutting and maintained its dividend.

The stock closed 2025 at £1.85 and continued higher during the first part of 2026, reaching a two-year high of £2.42 on 13 May around the release of BT's full-year results. Those results included record fibre rollout progress and an increased dividend.

The shares subsequently declined through the summer, reaching £1.85 in late July as investors considered developments including Ofcom's proposal to block a new Openreach discount scheme and changes across the wider UK telecoms sector.

BT.A was trading around £1.95–£1.96 during the afternoon of 10 August 2026, around 6% higher year to date but roughly 6.3% lower year on year. Taken together, these figures show that the shares remained above their November 2024 low but below their May 2026 peak.

Past performance is not a reliable indicator of future results. Share prices are indicative and may differ from live market prices.

Capital.com’s client sentiment for BT CFDs

As of 10 August 2026, Capital.com client positioning in BT CFDs is predominantly long, at 97.1% long and 2.9% short. This means long positions exceed short positions by 94.2 percentage points at the time of the snapshot.

Client sentiment shows how Capital.com clients are currently positioned, rather than indicating how the market will move next. The figures reflect open positions on Capital.com and can change.

Summary – BT 2026

BT.A traded near £1.96 as of 2.06pm UTC on 10 August 2026, around 6% higher year to date but about 6.3% lower year on year.
According to TradingView data, the price sits below several moving-average reference levels, while RSI at 45 and ADX at 16.91 do not indicate a firmly established directional trend.
Factors that could influence BT's share price include Openreach's fibre rollout, the company's financial performance and dividend policy, regulatory developments and competition in UK broadband.
Recent developments include BT's 23 July 2026 trading update, its 6 August ex-dividend date and analyst price targets spanning approximately £1.43–£3.30.

Past performance is not a reliable indicator of future results.

FAQ

What is the five-year BT share price forecast?

The article does not provide a five-year BT share price forecast. The third-party forecasts cited focus on shorter-term expectations, mainly 12-month price targets. These range from approximately £1.43–£3.30, with cited consensus averages near £2.20–£2.24. Longer-term forecasts would involve greater uncertainty, as BT’s future share price could be influenced by earnings, fibre investment, regulation, competition, financing conditions and wider market developments.

Is BT a good stock to buy?

The article does not assess BT as a good or bad stock to buy. Analyst views are mixed, with cited ratings including Hold and Sell, while 12-month price targets span approximately £1.43–£3.30. Some analysts focus on factors such as margin discipline and dividend cover, while others highlight network investment costs, competition and execution risk. Whether BT suits an investor depends on their own objectives, circumstances and risk tolerance.

Could BT shares go up or down?

Yes. BT shares could move in either direction, and the article highlights several factors that may influence future price movements. These include company earnings, Openreach’s fibre rollout, dividend policy, regulatory decisions, competition in UK broadband and wider financing conditions. Analyst price targets also vary considerably, underlining the uncertainty around future performance. Technical indicators describe recent price behaviour, but they cannot predict future movements with certainty.

Should I invest in BT shares?

The article does not recommend whether to invest in BT shares. It presents third-party forecasts, recent company results, technical data and relevant market factors to help readers understand the range of views surrounding BT.A. Any decision to invest would depend on factors such as an individual’s financial circumstances, objectives, time horizon and tolerance for risk. Past performance, analyst forecasts and technical indicators do not guarantee future results.

Can I trade BT CFDs on Capital.com?

Yes, you can trade BT CFDs on Capital.com. Trading share CFDs lets you speculate on price movements without owning the underlying asset and to take long or short positions. However, contracts for difference (CFDs) are traded on margin, and leverage amplifies both profits and losses. You should ensure you understand how CFD trading works, assess your risk tolerance, and recognise that losses can occur quickly.