"On these stock price levels We consider the risk / yield to be more balanced with a 20% increase in a double trade with Talia, "writes Bernberg Tele2 In the analysis.
The Tele2 share fell more than 10% from July 20, so it has grown significantly more than the index and the dlala during this period. Behind Tele2's weak development lies a combination of technical and fundamental reasons, including the merger with Com Hem, says Bernberg.
Today there is a hanging To a 15% premium against Tele2, which Sternberg believes has no justification for the fact that Tele2 has simple businesses with higher growth and a higher return to shareholders than to Talia.
Moreover, Bernberg believes that the suspension of the Tele2 deal in the Netherlands, which the bank now sees as a reasonable outcome, will not change Tele2's dividend potential.
The surgery is upgraded Bernberg's recommendation for Tele2 to buy (sell), which the news agency reported directly on Monday.
The target price for Tele2, however, is adjusted to 116 (124) SEK. The decline refers to a more cautious view of ComHem's revenue growth and a lower probability that the merger between Tele2 and T-Mobil in the Netherlands will be approved.
For Talia, the sales recommendation repeats the target price to 38 (39).
At 10, Tele2 rose 1.7% to 10:10, while Telia fell by a marginal 0.1% to 41.29.