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Brasil Telecom Participações S.A.

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BRP.N

ISIN: US1055301097
SEDOL: 2297941

Rating:

HOLD

Target Price:

36.60 USD

Investment Horizon:

6 to 12 months
15th May 2009 View Report   Download

1Q 09 News Alert

Brasil Telecom Participacoes S.A.'s (BRP) reported weak 1Q 09 net revenues, which fell short of our and market expectations. Strong performance in the Data Transmission segment partially offset weak revenues from Local services and Public Telephony in the Wireless segment. Significantly high operating expenses dragged down operating profitability and earnings. Although we expect the company to benefit from its integration with Telemar Norte Leste S.A under the brand…

8th Apr 2009 View Report   Download

4Q 08 & FY 2008 Update Report

The telecom industry has been witnessing a switchover from fixed-line to mobile usage, leaving the wireline market with bleak prospects. We expect this scenario to continue with companies laying more emphasis on improving wireless technologies. BRP currently garners the majority of its revenues from the fixed-line segment. However we expect the company’s Broadband services and Mobile telephony segment to continue to boost growth going forward....

11th Feb 2009 View Report   Download

4Q 08 News Alert

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Brasil Telecom Participações S.A.’s (BRP) 4Q 08 net revenues were below our and market expectations. Increasing wireline to wireless migration and a saturated wireline market have resulted in weak performances from the Public Telephony and Long Distance segments during the quarter. However, this was partially limited by moderate growth in revenues from the Local Services segment. Given weak 4Q 08 results, we are likely to…

22nd Dec 2008 View Report   Download

Company News Alert

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Brasil Telecom Participações S.A.’s (BRP) preferred stock was rated a BUY in our 3Q 08 update report, dated 03 November 2008. Since then the stock has appreciated 28.7%, significantly outperforming the domestic index. As the target price, at current price levels, no longer supports our BUY rating, we downgrade our rating to a HOLD. We downgrade the ADR from a HOLD to a SELL as we anticipate a significant…

3rd Nov 2008 View Report   Download

3Q 08 Update Results

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Brasil Telecom Participações S.A.’s (BRP) 3Q 08 net revenues were below our expectations and witnessed mute y-o-y growth on account of weak performances by both BRP’s wireless and wireline business. While EBITDA and EBITDA margin decline y-o-y, earnings witnessed modest growth, led by lower Depreciation and Amortization (D&A;) expenses. Increasing wireline to wireless migration and a saturated wireline market have resulted in BRP’s Fixed…