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Tele2: UBS raises target price

(CercleFinance.com) - UBS has raised its target price for the Tele2 share from 100 Swedish kronor to 109.
7 Swedish kronor on Friday and has reiterated its "buy" rating on the telecom operator, saying that the consensus is too conservative.

"We think Tele2 remains well-positioned to beat consensus expectations near term, driven by strong numbers coming out of the Netherlands, Baltics and Croatia, but consensus is catching-up slowly," the broker said.

UBS' estimates are about 4% ahead of the earnings consensus for fourht-quarter 2017 and are 1% ahead for 2018.

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