Telefonica Seems to Be in Limbo Pending M&A Deals, BofA Says -- Market Talk
Dow Jones
Dec 04
1102 GMT - Telefonica's future performance pivots on acquisitions, Bank of America analysts write in a note, cutting their rating on the Spanish telecom stock to underperform from neutral. M&A deals could bolster Telefonica's operations and redress some governance issues, and would likely be funded through a share issue, BofA says. But so far, no deals have emerged, the analysts note. In the meantime, the company remains in a state of limbo, BofA says. The bank cuts its target price on the stock to 3.40 euros from 3.80 euros previously. Shares are broadly flat at 3.63 euros. (joshua.kirby@wsj.com; @joshualeokirby))
(END) Dow Jones Newswires
December 04, 2025 06:03 ET (11:03 GMT)
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