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Latest Ratings

The institutions listed below regularly publish opinions regarding PT's performance in the capital markets.
Note that any opinions, estimates or forecasts regarding PT's performance made by these
analysts are theirs alone and not those of Portugal Telecom or its management.
PT does not by its reference or distribution imply its endorsement of or concurrence with such information, conclusions or recomendations.
Recommendations from a given institution must be viewed in its full context, namely the entire text of the research it is based on, the share price at the time of writing, and the full range of recommendations employed by that institution.

buy 17, neutral 5, sell 6


Recomendations and last issued research

    Current recommendation   Last issued research
Institution   Rating Target Date   Title Date
Kepler Capital   Buy 10.00 11-Mar-10   Poised for cah flow explosion 11-Mar-10
New Street   Reduce 6.30 10-Mar-10   The Portuguese TV show 10-Mar-10
Barclays Capital   Equal-weight 10.60 8-Mar-10   Portugal Telecom: Upgrading to 2-EW 8-Mar-10
Execution Limited   Sell 6.00 8-Mar-10   Company Insight 8-Mar-10
Macquarie    Outperform 9.00 5-Mar-10   Doing the right things, right 5-Mar-10
Natixis Securities   Reduce 7.50 5-Mar-10   Domestic wireline business as impressive as ever 5-Mar-10
Espirito Santo   Buy 9.00 4-Mar-10   4Q09 results with solid trends 4-Mar-10
Banesto   Overweight 9.41 4-Mar-10   4Q09 results 4-Mar-10
Oddo securities   Add 8.50 4-Mar-10   FY 2009 earnings slightly higher than estimates 4-Mar-10
Nomura   Reduce 8.50 4-Mar-10   PT - Change of price target 4-Mar-10
Deutsche Bank   Hold 8.50 4-Mar-10   Geared towards wireline 4-Mar-10
Goldman Sachs   Buy 11.40 4-Mar-10   Attractive LT prospects outweigh ST macro headwinds; reit. Buy 4-Mar-10
Citi   Buy 8.80 4-Mar-10   First Take 4Q09 – Strong in Fixed Sales & Mobile EBITDA 4-Mar-10
UBS   Neutral 8.00 4-Mar-10   Solid Q4 results 4-Mar-10
Exane - BNP   Outperfrom 9.50 18-Feb-10   Southern Europe previews: differentiating fundamentals to remain in place 18-Feb-10
BPI   Buy 8.60 17-Feb-10   Overreaction 17-Feb-10
HSBC   Neutral 8.30 12-Feb-10   An Italian solution to a Brazilian problem 12-Feb-10
Banif   Buy 8.85 9-Feb-10   2009Q4 Preview: another set of solid results 9-Feb-10
BAS/Merrill Lynch   Buy 8.50 5-Feb-10   Upgrade to Buy 5-Feb-10
Morgan Stanley   Overweight 9.70 4-Feb-10   Earnings stability with solid returns: upgrade to OW 4-Feb-10
Millenium bcp   Buy 8.80 4-Feb-10   Ambitious game plan postpones deleverage 4-Feb-10
Caixa BI   Accumulate 9.60 2-Feb-10   Looking at fiber and Brazil 2-Feb-10
ING   Buy 9.50 25-Jan-10   European Telecoms - Operational pressures to persist 25-Jan-10
Berenberg Bank   Sell 7.75 25-Jan-10   Will the real cash flow please stand up 25-Jan-10
Credit Suisse   Outperform 9.20 22-Jan-10   Erratum: adjusting for MTRs 22-Jan-10
JP Morgan   Neutral 9.00 14-Jan-10   Portugal Telecom updating forecasts ahead of 4Q results 14-Jan-10
Santander   Underweight 7.70 15-Dec-09   Customers up, Cash Flow down 15-Dec-09
Cazenove   In-line 7.86 4-Dec-09   Estimates updated following Q3 results 4-Dec-09

Last Update: 12 Mar 2010