The Norwegian mobile operator Telenor commands an interesting position in the Nordic region, according to an analysis by Handelsbanken, which reiterates its buy recommendation with a target price of SEK 175.
"We continue to believe that the positioning among telecom companies in the Nordics is interesting, and we have previously pointed out that 2025 could be the year when Telenor attempts to acquire 3 Scandinavia, as it is likely that four operators will no longer be required in the market for competition reasons," Handelsbanken writes.
The bank's analysts note that Telenor is performing well in three out of its four Nordic markets.
"The home market of Norway is doing well, and we expect Finland to remain a growth engine (possibly at the expense of Telia). We also observe that Telenor is performing relatively well in Denmark, considering the challenging market conditions. However, the situation in Sweden is somewhat tougher," the analysts add.
