Why Telenor Is Now A 'Hold' Above 140 NOK/Share (Rating Downgrade)

2025-02-26 04:21:14 ET

Summary

• Telenor remains a core telecommunication holding in my portfolio, showing an 11% increase since my last recommendation, outperforming the market.
• My previous rating of 'Buy' with a yield above 7.5% and a PT of 150–170 NOK proved successful at this time.
• We'll update TELNY's outlook for the coming year, emphasizing its potential even going into 2025E, but now consider it a 'Hold' here.

Dear readers/followers,

In this article, I'm going to be revisiting a stock that's fairly common for me to cover—Telenor (TELNY). It's part of my "core" telecommunication holding in both my private and commercial investment portfolio. I have held it for a long time, and while I have been positive for some time on the company, there has been a valuation component of my work for the company since I started covering it for you here on Seeking Alpha.

I believe the valuation component or the upside is best expressed by looking at my past recommendation for the stock. In this case, that's the Dec 10 article, a little over 2 months ago at this time. Since that time, the company has been up 11% next to a market that as of the time of writing this article, is down....

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