Telenor among best STOXX performers after 2024 outlook hike
** Shares in Telenor TEL.OL rise 5% after the Norwegian telecom operator upgraded its full-year outlook along posting better-than-expected Q3 earnings
** Telenor now seesa 3-4% organic growth in Nordic service revenues against previous forecast oflow-to-mid single digits, and an around 6% Nordic EBITDA growth compared to its earlier viewof amid-single-digit increase
** It also expects free cash flow of NOK 9.5-10 billion against previous guidance ofNOK 9-10 billion
** "Nordic EBITDA and group free cash flow guidance upgrades will be positive for the stock and would suggest estimates need to move higher," J.P.Morgan says
** Telenor's Q3 adjusted EBITDA came at NOK 9,200 million ($841.88 million) versus IBES estimate of NOK 9,095 million
** The stock, on track for its best day since July 2023, when it closed 6.7% higher, is among best performers on STOXX 600 .STOXX index
($1 = 10.9279 Norwegian crowns)
Reporting by Elviira Luoma
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