Tele2: shares up as Morgan Stanley raises target price

(CercleFinance.com) - Shares in Swedish telecom operator Tele2 are currently up 1.
5% at 152 Swedish kronor, having already hit a 20-year high in Wednesday morning trading, as Morgan Stanley raised its target price for the stock to 175 Swedish kronor from 170 Swedish kronor, maintaining its "overweight" rating on the stock.

In a note to clients, the broker says that the Baltic markets (Lithuania, Latvia and Estonia) are moving "in the fast lane," with 5% EBITDA growth per year over 2020-2023.

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