(CercleFinance.com) – Telenor gains nearly 4% in Paris, helped by an analysis by Barclays which raised its recommendation on the stock from ‘weight online’ to ‘overweight’, with a price target raised from 145 to 160 Norwegian crowns, in a note dedicated to Nordic telecoms operators.
‘We believe the Nordic markets offer the best exposure to positive pricing power among European telcos, with Norway and Finland showing clear momentum, with Sweden slightly behind,’ he says.
The broker sees Telenor as ‘the most appropriate card to play this’ and therefore raises its advice on the stock, while it downgrades its peer Telia to ‘online weight’ and remains to ‘overweight’ on Tele2, which it ‘ seems too cheap to ignore’.
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