Tele2: shares inch up after broker upgrade
(CercleFinance.com) - The Tele2 share is up on Monday after Barclays upgraded it from "underweight" to "equal weight," while also raising its target price from 100 Swedish kronor to 130 Swedish kronor.
In a report about European telecom services, the broker said that Nordic telcos appear to be "a good place to hide."
"Stable competition and solid ROCE should lead to all major Nordic Telcos offering solid (and steadily improving) cash generation and cash returns," Barclays noted.
It expects total shareholder return (TSR) from operators such as tele2, Telenor, and Telia to be around 20-25% over the next three years.
The Tele2 stock was up 0.1% at 125 Swedish kronor after these comments.
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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.
In a report about European telecom services, the broker said that Nordic telcos appear to be "a good place to hide."
"Stable competition and solid ROCE should lead to all major Nordic Telcos offering solid (and steadily improving) cash generation and cash returns," Barclays noted.
It expects total shareholder return (TSR) from operators such as tele2, Telenor, and Telia to be around 20-25% over the next three years.
The Tele2 stock was up 0.1% at 125 Swedish kronor after these comments.
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.