** Citigroup sees five key topics for Nordic telecoms companies in H2, keeping its top "buy" recommendations on Telenor OSL:TEL and Tele2 OMXSTO:TEL2_A, but placing Telia OMXSTO:TELIA on negative catalyst watch
** Telia's stock is down around 2%, Citi resumes with "neutral" citing guidance risk
** Overall on the sector, it says competitive dynamics shift, possible consensus upgrades and potential consolidation newsflow will remain as key focus for investors
** Aside those, shareholder returns will be in the spotlight as the year-end approaches, along with future growth levers, it says
COMPANY
NEW RATING
OLD RATING
NEW PT
OLD PT
Tele2
Buy
Buy
185 SEK
146 SEK
Telenor
Buy
Buy
190 NOK
170 NOK
Telia
Neutral
-
36 SEK
-
Elisa
Neutral
Neutral
44 EUR
44 EUR