Tele2 (Buy, TP: SEK136.00) - Positive tones on investor call
Yesterday we hosted a conference call with Samuel Skott, CCO at Tele2. Overall we are of the impression that things are evolving according to the plans laid out in the Q1 report, or even better. We believe this should reduce Q2 and 2020 risk. This, combined with weak share performance, has led us to upgrade the stock to BUY (HOLD) with an unchanged SEK136 target price.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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