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Tele2: UBS downgrades stock

( - UBS has downgraded Tele2 shares from "buy" to "neutral", now estimating 6% upside potential for the Scandinavian telecoms operator's shares, for its target price, which it maintains at 107 SEK.

The broker expects EBITDAaL and EFCF trends to improve in H2 2023, but also to be diluted by what it sees as exposure to significant spectrum investment.

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