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TEO.N

ISIN: US8792732096
SEDOL: 2878829

Rating:

STRONG BUY

Target Price:

10.10 USD

Investment Horizon:

6 to 24 months
3rd Dec 2008 View Report   Download

9M 08 Update Report

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TEO’s 9M 08 net revenues witnessed healthy y-o-y growth, with adjusted net income experiencing significantly higher growth led by reduced depreciation expenses on account of termination of TDMA depreciation charges in June 2008. Top-line growth is expected to be driven by growth in the domestic wireless business, supported by reduced tariffs and increased usage. In addition, rising demand for WiMax services…

7th Nov 2008 View Report   Download

3Q 08 News Alert

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Telecom Argentina S.A. (TEO) experienced healthy y-o-y growth in net revenues, attributable to increased cellular and Internet revenues. We expect revenues to continue to grow, led by increasing demand for wireless and Internet services, supported by healthy economic growth. Therefore at current levels, we do not anticipate a change in our current rating for the Class B common stock. We will reassess our estimates and target price…

22nd Oct 2008 View Report   Download

Company News Alert

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Telecom Argentina S.A.’s (TEO) common stock declined significantly since our 1H 08 update reports, including a sharp fall on 22 October 2008, reflecting weakness in equity market and economic uncertainty. However, we believe that this decline has left the company significantly undervalued and therefore maintain our current BUY rating for the common stock on fundamental grounds. We do not anticipate a change in the current ADR…

1st Oct 2008 View Report   Download

1H 08 Update Report

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Higher than expected Argentine wireless revenues resulted in 1H 08 top-line coming in above our expectations. Total revenues witnessed healthy growth, driven by increased wireless subscriber-base coupled with robust growth in the company’s Data Transmission and Internet businesses....

6th Aug 2008 View Report   Download

2Q 08 News Alert

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Telecom Argentina S.A. (TEO) witnessed strong y-o-y top-line growth, led by robust net additions in subscriber-base across wireless and broadband operations. Net revenues were higher than our expectations due to higher than expected growth from the Voice, Data and Internet business. Cellular revenues also reported strong y-o-y growth driven by subscriber-base additions....