Christoffer has published a new company report on Eltel 
We are raising Eltel’s target price to SEK 13.8 (previously 11.2). The increase reflects updated long-term valuation assumptions, featuring a lower cost of capital and a slightly higher terminal operating margin, rather than changes to our near-term operational forecasts, which we are largely leaving unchanged. However, following the strong share price increase after Q1, we believe the valuation has run too far, and the risk-adjusted return is no longer attractive at current levels. We are therefore downgrading our recommendation to Reduce (previously Accumulate). We view the pending Vattenfall framework agreement regarding the power grid in Roslagen and Uppland as a clear positive, which, once officially signed, would add upward pressure to our medium-term forecasts. As it has not yet been signed, we are not making any forecast changes at this stage. However, we emphasize that the agreement itself and its inclusion in our forecasts would not change our valuation view at current levels.