Zacks Investment Research Downgrades Telenor ASA (TELNY) to Sell
Telenor ASA (NASDAQ:TELNY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
According to Zacks, “Telenor ASA is a leading telecommunications company in Norway, which is among the most advanced telecommunications markets in the world. It is a provider of mobile communications services worldwide. The Company has four segments: mobile communication, fixed line communication, TV-based activities (Broadcast), and others. The Telenor Group is dynamic and flexible in its business approach, always exploring new markets and new technologies to make long-term investments. This is part of the reason why Telenor has grown from a national telephone service company in Norway to one of the world’s largest mobile provider. The Telenor Group is now a driving force in the industry, engaging in pioneering research and technology development and other areas that are important to develop the core business of Telenor further. “
Other equities research analysts have also issued research reports about the company. Deutsche Bank AG lowered Telenor ASA from a “hold” rating to a “sell” rating in a research note on Friday, July 29th. Jefferies Group lowered Telenor ASA from a “buy” rating to a “hold” rating in a research report on Friday, October 14th. HSBC lowered Telenor ASA from a “buy” rating to a “hold” rating in a research report on Monday, October 3rd. Finally, Berenberg Bank lowered Telenor ASA from a “hold” rating to a “sell” rating in a research report on Friday, September 16th. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The company currently has an average rating of “Sell” and a consensus target price of $19.00.
Telenor ASA (NASDAQ:TELNY) opened at 15.01 on Wednesday. The company’s 50-day moving average price is $0.00 and its 200-day moving average price is $0.00. Telenor ASA has a one year low of $13.71 and a one year high of $18.09.
About Telenor ASA
Telenor ASA is a telecommunication company. The Company’s segments include Norway, Sweden, Denmark, Hungary, Bulgaria, Montenegro & Serbia, dtac-Thailand, Digi-Malaysia, Grameenphone-Bangladesh, Pakistan, India, Myanmar, Broadcast and Other units. The Company’s main products and services are mobile communication, fixed line communication and broadcasting activities.
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