Telenor: Barclays upgrades stock

(CercleFinance.com) - Barclays raises its recommendation on Telenor from "equal weight" to "overweight", with a price target raised from NOK145 to NOK160, in a note devoted to the Nordic telecom operators.


" We believe the Nordic markets offer the best exposure to positive pricing power in EU Telcos, with Norway/Finland showing clear momentum, Sweden slightly behind ".

" We see Telenor as the cleanest way to play this and upgrade to overweight (NOK160 PT). We downgrade Telia to EW (SEK30 PT). Tele2 looks too cheap to ignore ".

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