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Ratings
Telefonica: Solid EBITDA Momentum but Uneven Country Trends Support Emmet Kelly’s Hold Rating
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Telefonica downgraded to Reduce from Neutral at New Street
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Telefonica price target lowered to EUR 3.80 from EUR 4 at Barclays
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Telefonica upgraded to Hold from Reduce at Kepler Cheuvreux
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Telefonica downgraded to Underperform from Neutral at BofA
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Telefonica resumed with a Neutral at Citi
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