Telenor Saw Negative Trends Largely Play Out as Expected -- Market Talk

0955 GMT - Telenor's second quarter saw a range of expected negative catalysts largely play out, and shares now look fairly valued, Barclays analysts write. The bank had expected the Norwegian telecommunications provider to face rising Finland competition and also some temporary Norway headwinds. These trends were confirmed, albeit with some one-off effects in Norway, Barclays says. Telenor downgraded its 2026 Ebitda outlook, citing the weakness in Finland and Norway. Given the share price is now at the bank's target price, and the bearish trends are now in the rearview mirror, Barclays upgrades its rating on the stock to equalweight from underweight. It lowers its price target to 135 Norwegian kroner from 140 kroner. Shares rise 0.8% to 134.80 kroner. (dominic.chopping@wsj.com)

(END) Dow Jones Newswires

August 03, 2026 05:55 ET (09:55 GMT)