Telenor (OB:TEL) Stock Fair Value Edges Lower As Analyst Targets Turn More Mixed

Telenor's fair value estimate in the model has shifted from NOK 157.30 to NOK 153.55, pointing to a slightly lower implied price level for the stock. This adjustment lines up with recent analyst commentary where targets now cluster in the NOK 135 to NOK 160 range, with some upgrades balanced by target cuts and more cautious views on upside. As you read on, you will see how this price target reset fits into the evolving Telenor story and what to watch as the narrative develops.

Stay updated as the Fair Value for Telenor shifts by adding it to your watchlist or portfolio . Alternatively, explore our Community to discover new perspectives on Telenor.

What Wall Street Has Been Saying

🐂 Bullish Takeaways

• Several firms have taken a more positive stance on Telenor in recent months, with Danske Bank, Pareto, Kepler Cheuvreux and Berenberg all upgrading the stock to Buy and setting price targets between NOK 150 and NOK 160.

• Barclays moved Telenor up to Equal Weight from Underweight with a NOK 135 target and indicated that earlier negative catalysts are now largely reflected in the share price.

🐻 Bearish Takeaways

• Morgan Stanley and Citi have both trimmed their Telenor targets, with Morgan Stanley now at NOK 145 and Citi at NOK 139, and each keeping more neutral stances that point to limited upside from current levels.

• Goldman Sachs cut its target to NOK 150 from NOK 185 and moved to Neutral, citing less scope for equity upside given the company's lower percentage return on invested capital growth and lower gearing.

Do your thoughts align with the Bull or Bear Analysts? Perhaps you think there's more to the story. Head to the Simply Wall St Community to discover more perspectives!

We've flagged 2 risks for Telenor. See which could impact your investment.

How This Changes the Fair Value For Telenor

• The fair value in the model moved from NOK 157.30 to NOK 153.55.

• The revenue growth assumption changed from 35.24% to 17.54%.

• The net profit margin assumption shifted from 17.21% to 17.20%.

• The future P/E assumption moved from 19.92x to 19.56x.

• The discount rate remained unchanged at 6.79%.

Never Miss an Update: Follow The Narrative

Narratives link Telenor's business story to a financial forecast and fair value, so you can see how key events feed into expectations. They refresh as new data and research arrive, keeping the thesis current.

Head over to the Simply Wall St Community and follow the Narrative on Telenor to stay up to date on:

• How Nordic upselling, better product mix and wholesale growth, alongside cost transformation programs, feed into Telenor's earnings potential.

• What rising data usage in Asian markets and capital recycling moves such as the planned Telenor Pakistan sale and GlobalConnect fiber acquisition could mean for the group's earnings mix and free cash flow.

• Key pressure points, including spectrum costs in Bangladesh, 5G NetCo risks in Malaysia, and competitive intensity in both Nordic and Asian mobile markets.