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TPG Telecom Ltd shares fall to a multi-year low

The TPG Telecom Ltd (ASX: TPM) share price is once again heading in the wrong direction.

In afternoon trade the telco company’s shares sunk lower and hit a multi-year low of $5.19.

Why are its shares at a new multi-year low?

Whilst the whole sector has come under fire this year, a reasonably negative broker note this week could have been the catalyst for its most recent decline.

Earlier this week analysts at UBS retained their neutral rating and lowered the price target on TPG Telecom’s shares to $5.75.

According to the note, UBS believes that the telco giant may have lost 1% of its market share over the last 12 months.

You can read more about this recent broker note here from Motley Fool contributor Brendon Lau.

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Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia owns shares of TPG Telecom Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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