Telenor ASA (OTCMKTS:TELNY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The brokerage presently has a $24.00 price objective on the utilities provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 5.42% from the stock’s previous close.

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. “

Separately, ValuEngine raised shares of Telenor ASA from a “hold” rating to a “buy” rating in a research report on Thursday, October 26th.

Shares of Telenor ASA (OTCMKTS:TELNY) traded up $0.70 during mid-day trading on Friday, reaching $22.77. 15,328 shares of the company’s stock traded hands, compared to its average volume of 56,004. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.60 and a quick ratio of 0.58. Telenor ASA has a 52 week low of $15.35 and a 52 week high of $22.70. The stock has a market cap of $32,656.71, a PE ratio of 23.23, a PEG ratio of 5.73 and a beta of 0.96.

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Telenor ASA Company Profile

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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