Citi sees five themes for Nordic telecoms for H2; places Telia on negative watch
12/09/2025 08:48
** Citigroup sees five key topics for Nordic telecoms companies in H2, keeping its top "buy" recommendations on Telenor TEL.OL and Tele2 TEL2b.ST, but placing Telia TELIA.ST on negative catalyst watch ** Telia's stock is down around 2%, Citi resumes with "neutral" citing guidance risk ** Overall on the sector, it says competitive dynamics shift, possible consensus upgrades and potential consolidation newsflow will remain as key focus for investors ** Aside those, shareholder returns will be in the spotlight as the year-end approaches, along with future growth levers, it says
| COMPANY | NEW RATING | OLD RATING | NEW PT | OLD PT |
|---|---|---|---|---|
| Tele2 | Buy | Buy | 185 SEK | 146 SEK |
| Telenor | Buy | Buy | 190 NOK | 170 NOK |
| Telia | Neutral | - | 36 SEK | - |
| Elisa | Neutral | Neutral | 44 EUR | 44 EUR |
Recent news on Elisa Oyj
See all newsBrief: Masorange Selects Elisa Unit For Unified Analytics, Network Probe Solution
Brief: Forus Selects Elisa Industriq's Gridle To Operate 15 MW Of Battery Storage
Brief: Elisa Estonia Deploys Gridle Battery Optimization
Brief: Teleste, Polystar Partner To Bring AI-Driven Automation To Cable Network Operations
Citi downgrades Nordic telcos over slower earnings growth in Q2, lack of catalysts