MARKET TALK: Goldman Sachs Raises Telenor Target Price

30th Jun 2010 08:49

0749 GMT [Dow Jones] Goldman Sachs raises Telenor (TEL.OS) target price to NOK124 from NOK115. Says the company has the strongest growth in the sector given its exposure to emerging markets. Adds that Telenor could dodge increased taxation, a risk facing a lot of its European rivals. "However, for DT (DTE.XE), BT (BT) and Telenor, whose Ebitda margins are significantly below 40%, the political motivation to tax appears attenuated somewhat." Maintains buy rating. Shares -0.9% at NOK80.85. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 30, 2010 03:49 ET (07:49 GMT)