DB cuts Telenor to 'hold' post outperformance

Telenor ASA

12/09/2025 09:59

** Deutsche Bank downgrades Telenor TEL.OL to "hold" from "buy" seeing the Norwegian telecoms operator shares are fairly valued after a strong run

** The brokerage points out that Telenor's stock has outperformed the telecom sector by 26% this year, making it less attractive at current prices

** While operations are still solid, especially compared to other Nordic telecoms, the valuation now looks expensive, it says

** DB raises its PT by 6% to NOK 163

** Out of 19 analysts covering Telenor, eight rate the stock "strong buy" or "buy", ten "hold" and one "strong sell" - LSEG data

 (Reporting by Marta Frackowiak)

 ((marta.frackowiak@thomsonreuters.com))