Kepler Cheuvreux cuts Tele2 to 'hold' on limited near-term upside

Tele2 AB

23/05/2025 09:13

** Kepler Cheuvreux moves its rating on Swedish telecoms operator Tele2 TEL2b.ST to "hold" from "buy," citing limited upside after strong share performance

** The broker says that Tele2 had a "solid" start to 2025 with 6% EBITDA growth, which is expected to accelerate throughout the year helped by recent job cuts

** Tele2 is set to achieve one of the highest EBITDA growth rates among European operators in 2025, the brokerage says, but notes that it is likely in the price after recent strong share price run

** The stock was up 32% as of Thursday's close

** The broker hikes its PT by 9% to 150 Swedish crowns

** Out of 22 analysts that cover Tele2, eight rate the stock "strong buy" or "buy,"​ 13 rate it "hold" and one "sell"

 (Reporting by Anna Chaberska)

 ((Anna.chaberska@thomsonreuters.com;))