DNB cuts Tele2 as Kinnevik sale weighs

Kinnevik AB

17/04/2023 12:46

** DNB cuts Tele2  TEL2b.ST  to "hold" from "buy" and
reiterates TP of SEK 110 
    ** The broker sees limited share price upside potential for
the Swedish telecoms operator
    ** The 2023 forecast is in line with consensus and guidance,
DNB says, and furthermore points to a stock overhang from
Kinnevik  KINVb.ST 
    ** The stock is down almost 20% since Kinnevik in May 2022
reduced its holding in Tele2 at discount
    ** Out of 21 analysts that cover Tele2, 11 rate the stock
"strong buy" or "buy", ​eight rate it "hold" and two​ rate the
stock "strong sell" or "sell"
    


 (Reporting by Jacob Rasmussen and Greta Rosén Fondahn)
 ((jacob.rasmussen@thomsonreuters.com
greta.rosenfondahn@thomsonreuters.com))