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Telia: UBS raises its recommendation

(CercleFinance.com) - UBS has upgraded Telia shares from 'neutral' to 'buy', with a target price raised from 26.
3 SEK to 32 SEK, with its new target price representing 18% upside potential for the Scandinavian telecom operator's stock.

"Telia can finally deliver MSD EBITDA growth and almost double FCF from 2022 lows back to 2021 levels next year", UBS says, which also considers the valuation "appealing despite rally".


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