Zacks Investment Research upgraded shares of Telenor ASA (OTCMKTS:TELNY) from a sell rating to a hold rating in a report published on Tuesday.

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 analysts have also issued research reports about the company. Jefferies Group lowered Telenor ASA from a buy rating to a hold rating in a report on Friday, October 14th. HSBC lowered Telenor ASA from a buy rating to a hold rating in a report on Monday, October 3rd. Berenberg Bank lowered Telenor ASA from a hold rating to a sell rating in a report on Friday, September 16th. Finally, Deutsche Bank AG lowered Telenor ASA from a hold rating to a sell rating in a report on Friday, July 29th. Four equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The stock currently has an average rating of Sell and a consensus target price of $19.00.

Analyst Recommendations for Telenor ASA (OTCMKTS:TELNY)

Shares of Telenor ASA (OTCMKTS:TELNY) opened at 14.60 on Tuesday. The firm’s 50-day moving average price is $15.93 and its 200 day moving average price is $16.54. Telenor ASA has a 12-month low of $13.71 and a 12-month high of $18.09. The company’s market cap is $21.93 billion.

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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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