(CercleFinance.com) – Telefonica Deutschland fell 4% in Frankfurt, penalized by a downgrading of its recommendation at UBS from ‘buy’ to ‘neutral’, after a recent relative outperformance which brought the stock closer to its price target unchanged at 2 .6 euros.
If the broker leaves its estimates unchanged for the German subsidiary of the Spanish telecom operator Telefonica, he considers that ‘the action is defensive in the short term, but needs improvements to revalue further’.
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