Brokerages sees potential in new markets for Truecaller
19/11/2021 07:48
** Citigroup initiates Swedish telecom company Truecaller
TRUEb.ST with a "neutral" rating and a TP of SEK 117 ($13.18)
** The brokerage says that the company has a strong growth
trajectory, however strong share price performance since IPO
limits potential upside in the near term, which underscores its
neutral rating
** Citi adds that the potential addressable market for
Truecaller is massive and growing, with potential to take market
shares in several emerging economies
** JP Morgan initiates Truecaller with "overweight" and a TP
of SEK 135, as it sees opportunities from new market entries
** The brokerage says the growth momentum seems priced in
for now, but potential weighted upside from future growth merits
an "overweight" rating
** Shares of Truecaller AB rose 30.6% in the last month
($1 = 8.8752 Swedish crowns)
(Reporting by Tommy Lund)
((Tommyalexander.lund@thomsonreuters.om))