BT Share Price Hit 200p For The First Time In Years – What Next?

BT's share price (LON:BT-A) has hit the psychologically significant 200p mark today, making a new 52 week high at 200.60p, before closing out the day just below at 198.80, for a 0.43% gain. The shares have had a very strong 2025, climbing 35% since the start of the year. The 200p level had previously proven a stubborn barrier to the upside move, showing up as resistance, and not being hit for 5 years.

A dividend yield of 4.12% (ex-dividend date August 7, 2025) also provides an appealing income stream for investors to go with the recent appreciation. The trailing twelve-month revenue stands at £20.36 billion, with a net income of £1.05 billion. All eyes will be on the upcoming earnings report, scheduled for release at the end of the month, likely a key indicator for what comes next.

Strategic decisions under the leadership of Chief Executive Allison Kirkby, who took the helm in February 2024, are playing a significant role in shaping BT's narrative. Kirkby has initiated an ambitious cost transformation program targeting £3 billion in savings by 2030 through the elimination of over 40,000 jobs.

Advancements in AI could potentially lead to even deeper cuts. Furthermore, BT is refocusing on its core UK operations, divesting its Italian and Irish businesses and exploring options for its international division, moves that have been well-received by the market, contributing to a substantial increase in BT’s share price since her appointment.

However, BT is not without its challenges. The company reported an unexpected 3% decline in annual revenues for the fiscal year ending March 31, 2025, attributed to weaker sales in its Consumer and Business divisions. While Openreach continues to perform strongly, driven by the full-fibre rollout, persistent inflation and rising interest rates have dampened investor sentiment, contributing to volatility.

Technically, BT’s share price surpassing its 200-day moving average in April 2025 was a positive sign, often interpreted as a bullish signal, and the recent action has supported the move higher.

With the first attempt to hold 200p coming undone, bulls will likely be eyeing further tests, and a move higher on strong volume. For now, some satisfaction at having hit the level will have to do.