Zacks: Telenor ASA (TELNY) Receives Consensus Rating of “Buy” from Analysts
Shares of Telenor ASA (NASDAQ:TELNY) have been given a consensus broker rating score of 2.33 (Buy) from the three analysts that provide coverage for the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. Telenor ASA’s rating score has declined by 16.5% in the last three months as a result of various analysts’ upgrades and downgrades.
Analysts have set a 12-month consensus price target of $18.88 for the company, according to Zacks. Zacks has also assigned Telenor ASA an industry rank of 91 out of 265 based on the ratings given to its competitors.
A number of research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Telenor ASA from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. Jefferies Group lowered shares of Telenor ASA from a “buy” rating to a “hold” rating in a research report on Friday, October 14th. Deutsche Bank AG lowered shares of Telenor ASA from a “hold” rating to a “sell” rating in a research report on Friday, July 29th. HSBC lowered shares of Telenor ASA from a “buy” rating to a “hold” rating in a research report on Monday, October 3rd. Finally, Berenberg Bank lowered shares of Telenor ASA from a “hold” rating to a “sell” rating in a research report on Friday, September 16th.
Shares of Telenor ASA (NASDAQ:TELNY) opened at 16.39 on Friday. Telenor ASA has a 12-month low of $13.71 and a 12-month high of $20.70. The company has a market cap of $24.61 billion and a PE ratio of 135.45. The stock’s 50 day moving average price is $16.85 and its 200-day moving average price is $16.70.
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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