Telia: shares rise on broker upgrade
(CercleFinance.com) - Telia shares are up on Tuesday after Berenberg raised its rating on the Nordic telecom group from "sell" to "hold", citing a more positive view on the sector.
The German broker also raised its target price on the share from 37.3 Swedish kronor to 42 Swedish kronor.
In a note to clients, the German broker said Telia's price increases this year across both fixed and particularly mobile have sent an "encouraging signal" to the Swedish market.
Telia shares are currently up 0.8% at 43.5 Swedish kronor in Stockholm.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The German broker also raised its target price on the share from 37.3 Swedish kronor to 42 Swedish kronor.
In a note to clients, the German broker said Telia's price increases this year across both fixed and particularly mobile have sent an "encouraging signal" to the Swedish market.
Telia shares are currently up 0.8% at 43.5 Swedish kronor in Stockholm.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.