Tele2: shares rise after Barclays upgrade

(CercleFinance.com) - Tele2 shares are up 1.
6% in Friday afternoon trading, after Barclays upgraded the stock from "equal weight" to "overweight".

Barclays - which raised its target price from 130 Swedish kronor to 140 Swedish kronor - cited "lower capex" at the Swedish telecom operator.

"A deeper analysis of "non-fibre" capex over the past decade shows much lower capital intensity at Tele2", the broker said in a note on European telecom services.

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