Three brokers confirm stance on TeliaSonera

Tue. September 08, 2009; Posted: 11:49 AM

Sep 08, 2009 (M2 PRESSWIRE via COMTEX) -- NTXFF | Quote | Chart | News | PowerRating -- 8 September 2009 - Bank of America (BofA) reiterated its "underperform" rating, DnB NOR kept "hold" and Natixis maintained "reduce" on Swedish-Finnish telecoms major TeliaSonera AB (STO: TLSN) after the latter yesterday held its capital markets day in Stockholm.

BofA and DnB NOR also reiterated their share price targets on TeliaSonera, at SEK39 and SEK45 respectively. However, Natixis raised its target to SEK38.60 from SEK35.

BofA did not make any changes in its estimates for the telecoms major after the capital markets day, as it does not see any clear signs of immediate triggers for the stock.

On the positive side, the broker sees low immediate pressure on the company's margins and capital expenditure (capex). However, there are no plans for further personnel cutbacks in the coming 18 months, the broker noted.

Furthermore, there were no news about TeliaSonera's associated companies and BofA estimates that a strong cash flow in the company is not very likely at the moment.

According to DnB NOR, the capital markets day was a step in the right direction for TeliaSonera's share. However, the stock is currently fully valued and there are no significant triggers.

Nevertheless, the event was positive as TeliaSonera started to report in a more transparent way in a number of areas, according to DnB NOR. The company is thus getting closer to the detailed reporting by its rivals but still has to catch up.

By 13:06 CET on Tuesday, TeliaSonera's stock was down 0.88% to SEK45 on the OMX Nordic Exchange in Stockholm.

(EUR1 = SEK10.2 )

Comments on this story may be sent to 
nbr.feedback@nordicbusinessreport.com

For full details for NTXFF click here.

More News: Market Updates | Stock Alerts | All Trading News | Stock Index

Archives

Feedback

Email Article Link

Close X

RELATED SITES

Please call 1-213-955-5858 ext. 1

Tax Relief Bank Levy Wage Garnishment

Disclaimer:

The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.

The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302

All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.