Telefonica Deutschland: UBS downgrades stock

(CercleFinance.com) - UBS has downgraded its rating on Telefonica Deutschland from "buy" to "neutral", after its recent relative outperformance that has brought the stock closer to its unchanged target price of 2.
6 euros, a target that gives it just 3% upside potential.

While the broker is maintaining its estimates for the German subsidiary -whose stock is listed in Frankfurt- of the Spanish telecom operator Telefonica, it considers that the stock is defensive in the near term, although needs improvements to further enhance its value.


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