(CercleFinance.com) – UBS downgrades its recommendation on Tele2 from ‘buy’ to ‘neutral’, with an estimated upside potential of 6% for the title of the Scandinavian telecom operator, compared to its price target maintained at 107 Swedish crowns.
The broker expects EBITDAaL and EFCF trends to improve in the second half of 2023, but also to be diluted by what it sees as spectrum investment exposure significant.
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