Tele2: Credit Suisse upgrades rating, shares rise

(CercleFinance.com) - Tele2 shares rose as much as 1.
8% on Friday after Credit Suisse upgraded the Swedish telecom operator's stock and target price.

Credit Suisse upgraded the stock to "outperform" from "neutral", and its price target to 158 Swedish kronor from 137 Swedish kronor, making it its preferred Nordic telco stock.

The broker cited the company' exposure to a "relatively strong" Swedish economy post-Covid-19 and accelerating revenue growth on the back of price increases.

Tele2 shares were up 1.8% after these comments, outperforming the STOXX Europe 600 Telecommunications index (+1.3%) and just edging the Swedish main OMXS30 index (+1.7%).

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