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NOS

NOS:PL

Primary coverage by Russell Waller

Rating

Neutral

EUR €5.5

Model

Updated March 12, 2026

Research

Sector rally call slides - Orange/Telia/Tele2 and whole sector: Downgrade to Neutral

March 12, 2026 — Russell Waller, Jeremy Ben-Nathan, James Ratzer and Ben Rickett
NOS Q4 25: Better SR trends; extraordinary dividend

March 3, 2026 — Russell Waller
EU Telecoms: 2026 Lookahead Call Slides

January 8, 2026 — James Ratzer, Russell Waller, Ben Rickett and Jeremy Ben-Nathan
EU TELECOMS: 2026 lookahead

December 17, 2025 — James Ratzer, Russell Waller, Ben Rickett and Jeremy Ben-Nathan
FWA deep-dive: It has the potential to be disruptive

November 24, 2025 — James Ratzer

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