Telenor ASA (TELNY) Cut to Hold at Jefferies Group
Telenor ASA (NASDAQ:TELNY) was downgraded by analysts at Jefferies Group from a “buy” rating to a “hold” rating in a research note issued on Friday, The Fly reports.
A number of other research analysts also recently commented on the stock. Deutsche Bank AG downgraded shares of Telenor ASA from a “hold” rating to a “sell” rating in a research note on Friday, July 29th. Zacks Investment Research cut shares of Telenor ASA from a “hold” rating to a “sell” rating in a report on Thursday, September 1st. Berenberg Bank cut shares of Telenor ASA from a “hold” rating to a “sell” rating in a report on Friday, September 16th. Finally, HSBC cut shares of Telenor ASA from a “buy” rating to a “hold” rating in a report on Monday, October 3rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $19.00.
Shares of Telenor ASA (NASDAQ:TELNY) opened at 16.36 on Friday. The stock has a market cap of $24.56 billion and a P/E ratio of 135.21. Telenor ASA has a 12-month low of $13.71 and a 12-month high of $20.70. The company’s 50-day moving average is $16.98 and its 200-day moving average is $16.69.
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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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