Tele2: Morgan Stanley raises target price
(CercleFinance.com) - Morgan Stanley has raised its target price for the Tele2 share, citing the effects of price rises, new cost cuts and special dividends.
The broker - which has an "overweight" rating on the stock - has raised its target price to 170 Swedish kronor from 160 Swedish kronor.
In a note to clients, Morgan Stanley said it sees "compelling catalysts" that could drive further share price appreciation.
"We see positive earnings revisions in 2020 and an attractive message on shareholder remuneration," Morgan Stanley pointed out.
Tele2 shares were up about 1.5% at 142.2 Swedish kronor on heavy volumes in morning trading on the Nasdaq Stockholm exchange.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The broker - which has an "overweight" rating on the stock - has raised its target price to 170 Swedish kronor from 160 Swedish kronor.
In a note to clients, Morgan Stanley said it sees "compelling catalysts" that could drive further share price appreciation.
"We see positive earnings revisions in 2020 and an attractive message on shareholder remuneration," Morgan Stanley pointed out.
Tele2 shares were up about 1.5% at 142.2 Swedish kronor on heavy volumes in morning trading on the Nasdaq Stockholm exchange.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.