Tele2 B stock: Deutsche Bank lifts target to SEK 148
Published on 10/20/2026 at 16:17 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSAnalyst target and market position
- Deutsche Bank raised its Tele2 target from SEK 144 to SEK 148 on October 15, 2026.
- Tele2 had a market capitalization of SEK 111.8 billion as of October 20, 2026.
- Tele2 B stock cost EUR 14.63 at Lang & Schwarz on October 20, 2026 at 4:06 p.m. CEST.
- Tele2 scheduled its full-year 2026 report for January 27, 2027.
Tele2 B (ISIN SE0005190238) traded at SEK 162.85 on Nasdaq Stockholm at 4:15 p.m. CEST on October 20, 2026, while Deutsche Bank raised its target from SEK 144 to SEK 148 on October 15, 2026, according to Zonebourse. Tele2 B was trading at EUR 14.63 at Lang & Schwarz on October 20, 2026 at 4:06 p.m. CEST.
What does the target imply?
The revised SEK 148 target lies 9.12 percent below the Nasdaq Stockholm price of SEK 162.85. Deutsche Bank kept its Hold recommendation in the October 15, 2026 update, making the target a valuation marker rather than a positive directional call.
The target adjustment came after Tele2's third-quarter reporting period had ended. The most recent company report stated that equity free cash flow reached SEK 2,302 million in July through September 2026, compared with SEK 1,777 million in the same quarter of 2025. The report also classified underlying EBITDAaL as a non-IFRS measure.
Cash flow supports the balance sheet
Tele2 reported revenue of SEK 7,603 million for the third quarter of 2026, up from SEK 7,442 million in the third quarter of 2025. Underlying EBITDAaL was SEK 3,146 million, compared with SEK 3,157 million a year earlier, while net profit increased to SEK 1,410 million from SEK 1,290 million, according to Tele2.
Management narrowed full-year 2026 organic underlying EBITDAaL growth guidance to 4 to 5 percent and reduced the capital expenditure-to-sales target to below 10 percent. The same report put economic net debt at SEK 17,511 million on September 30, 2026, with leverage at 1.5 times underlying EBITDAaL.
Valuation and next dates
The primary-market quote carried a price-to-earnings ratio of 11.20, a market capitalization of SEK 111.8 billion and a 52-week range of SEK 143.05 to SEK 198.30 as of October 20, 2026. The current market position is therefore 13.82 percent above the yearly low and 17.88 percent below the yearly high.
Tele2 scheduled its full-year 2026 report for January 27, 2027, followed by its first-quarter report on April 20, 2027, according to the financial calendar in the third-quarter report. The annual general meeting is scheduled for May 12, 2027.
Stock position for investors
The analyst target, the cash-flow improvement and the lower capital-spending guidance point to three separate valuation inputs. The target remains below the Stockholm price, while the company is generating more equity free cash flow than in the comparable quarter.
Tele2 B was trading at EUR 14.63 at Lang & Schwarz on October 20, 2026 at 4:06 p.m. CEST. The real-time quote of Tele2 B stock.
Tele2 B market data
- Company: Tele2 AB (publ)
- ISIN: SE0005190238
- Ticker: TEL2-B
- Primary exchange: Nasdaq Stockholm
- Price Lang & Schwarz (as of October 20, 2026, 4:06 p.m. CEST): EUR 14.63
- Market capitalization: SEK 111.8 billion (as of October 20, 2026)
- 52-week range: SEK 143.05-198.30 (as of October 20, 2026)
- Sector / Industry: Telecommunications
- Next earnings date: January 27, 2027
Market context: Market report OMXS30.
