Tele2 B, SE0005190238

BNP Paribas downgrades Tele2 B stock to Neutral

Published on 10/05/2026 at 11:07 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Q2 2026 service revenue grew 2.00 percent and underlying EBITDA 4.00 percent. Tele2 B stock costs EUR 14.35 on October 5, 2026 versus EUR 14.32.

Aquarellbild von Stockholms Skyline mit Sendemast in Pastelltönen — Aquarellmalerei zeigt Stockholms Skyline mit Sendeturm, künstlerisch inspiriert von Tele2 AB, ISIN SE0005190238, Telekommunikationsunternehmen, Illustration mit AI erstellt.

Tele2 B stock was trading at EUR 14.35 at Lang & Schwarz on October 5, 2026 at 11:01 a.m. CEST, up 0.21 percent versus the prior close of EUR 14.32. The latest analyst signal came on September 10, 2026, when BNP Paribas downgraded Tele2 from Outperform to Neutral and set a SEK 180.00 price target, according to Marketscreener.

Q2 growth supports the guidance

Tele2's operating trend remained positive in the second quarter of 2026. End-user service revenue grew 2.00 percent year over year, while underlying EBITDA increased 4.00 percent, according to the Q2 conference-call transcript published by Yahoo Finance on July 16, 2026.

The comparison is important because EBITDA growth exceeded service-revenue growth by 2.00 percentage points. Tele2 also generated SEK 1.50 billion in equity free cash flow in the second quarter, although that figure was 9.00 percent lower year over year because of tax-payment timing.

Competition remains the counterweight

Management described Sweden's mobile and fixed-broadband markets as competitive in the second quarter. Swedish business end-user service revenue grew 4.00 percent, while the Baltic operations delivered 6.00 percent revenue growth and 10.00 percent underlying EBITDA growth.

Tele2's 2026 outlook calls for low single-digit organic growth in end-user service revenue, low to mid single-digit organic growth in underlying EBITDA and capital expenditure equal to 10.00 percent to 11.00 percent of sales. The combination of cost control and positive Baltic momentum supports the operating case, while Swedish pricing pressure limits the scope for a stronger near-term signal.

Next report arrives October 20

Tele2's investor calendar places the next interim report on October 20, 2026, providing the next test of the Q2 growth pattern and the full-year outlook, according to Tele2. On Nasdaq Stockholm, the share was last at SEK 161.65 on October 5, 2026 at 11:04 a.m. CEST, within its SEK 143.05 to SEK 198.30 52-week range. The market capitalization was SEK 110.5 billion on the same date.

Tele2 B stock stays below its high

At Lang & Schwarz, Tele2 B stock was trading at EUR 14.35 on October 5, 2026 at 11:01 a.m. CEST, plus 0.21 percent versus the prior close of EUR 14.32. The further course of trading is shown by the continuously updated real-time quote of Tele2 B stock.