Telenor advances 2026 buyback program, shares trade near NOK 144

By Anna Wagner, Analysts & Consensus desk. Reviewed prior to publication on 2026-06-29, 14:03.

Telenor (NO0010063308) updates investors on the progress of its current share buyback. The Oslo-listed telecom group reports continued execution of the 2026–2027 repurchase plan, with the stock trading around NOK 144 on Euronext Oslo as the program advances. MarketScreener summarizes the latest buyback status.

Buyback status and recent moves

Telenor has a multi-year share buyback in place for 2026–2027, structured to return capital alongside its regular dividend policy, according to recent investor materials. The latest status update shows continued purchases of own shares, leaving the group with roughly 0.2 percent of its outstanding stock in treasury as of late June, as highlighted in a TipRanks news brief that tracks the program’s progress. The TEL.OL quote page on eToro references the 0.2 percent figure.

The buyback accompanies operating developments, including Telenor’s business unit KNL being awarded a position on a UK tactical communication systems framework in June and a NOK 200 million mobile services agreement with Bane NOR, according to recent deal summaries in the specialist press. These contracts underscore the group’s ongoing role as a provider of mission-critical connectivity in the Nordics and selected international markets, supporting the case for steady capital returns.

Pareto trims target, consensus stays cautious

On the analyst side, Pareto Securities recently cut its price target for Telenor to NOK 155 from NOK 160, while reiterating a hold rating, as reported in a June note captured by MarketScreener’s coverage of Oslo-listed stocks. The adjustment suggests a cautious stance on upside from current levels, with the new target implying modest potential relative to a share price around NOK 144. MarketScreener compiles the latest Telenor analyst targets.

Consensus data aggregated by MarketScreener points to an average target price near NOK 167 for Telenor, with several houses maintaining neutral or hold recommendations on the telecom stock. That average still sits comfortably above recent trading levels on Euronext Oslo, but the muted revision by Pareto highlights that some analysts see limited room for re-rating in the near term, especially against a backdrop of mature Nordic mobile markets and ongoing investment needs in network infrastructure.

The business behind the stock

Telenor generates most of its revenue from mobile and fixed telecom services in Norway, the Nordics and selected Asian markets, including Bangladesh and Pakistan, according to the company’s latest annual report and investor presentations. The group’s core offerings range from consumer mobile voice and data to enterprise connectivity, broadband and digital services, under brands such as Telenor in the Nordics and Grameenphone in Bangladesh. Telenor’s annual report outlines the segment mix.

Where the stock trades today

The Telenor shares (NO0010063308) trade on Euronext Oslo at 2026-06-29, 12:00 at approximately NOK 144.40, based on real-time data reported by MarketScreener for the TELENOR ASA listing.

Disclaimer: This article is for informational purposes only and does not constitute investment advice, a recommendation or an offer to buy or sell any financial instrument. All data are based on sources believed to be reliable but may be subject to change. Investors should conduct their own research or consult a professional adviser before making investment decisions.