Tele2: Berenberg raises target price

(CercleFinance.com) - Berenberg raised its target price for the Tele2 share from 157 Swedish kronor to 161 Swedish kronor, saying that its quarterly report could reveal a renewed focus on cost savings.


"With Tele2's fourth-quarter results likely to be broadly in line with consensus, we expect the focus to be on the announcement of a new cost savings plan," Berenberg said in a research note.

It said that the move is underpinned by Tele2's strategy to become a more integrated operator, compared to what is now essentially a collection of three largely separate organisations.

Tele2 will post its fourth-quarter results on 3 February.

The shares are currently down 0.3% at 138.2 Swedish kronor on the Nasdaq Nordic market.

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