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KPN downgraded to Neutral from Buy at Citi

Citi analyst Georgios Ierodiaconou downgraded KPN to Neutral from Buy with a price target of EUR 3.55, down from EUR 3.70. The firm cites the company’s limited free cash flow growth in 2024, some impact on wholesale from overbuild and the potential technical pressure form the exchangeable for the downgrade.

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