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Maxcom Telecomunicaciones, S.A. de C.V.

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MXT.N

ISIN: US57773A5083
SEDOL: B28KN28

Rating:

HOLD

Target Price:

3.67 USD

Investment Horizon:

6 to 12 months
7th May 2009 View Report   Download

Company News Alert

Maxcom Telecomunicaciones, S.A. de C.V.'s (Maxcom) ordinary participation certificate (CPO) price has appreciated 33% since our previous update report including a single day rise of 21%, yesterday, supported by recent improvement in global equity markets. Although current levels do not support a HOLD rating, we maintain our current HOLD rating for the Maxcom CPO based on concerns regarding limited growth prospects…

30th Apr 2009 View Report   Download

1Q 09 News Alert

Maxcom Telecomunicaciones, S.A. de C.V.’s (Maxcom) 1Q 09 results fell short of our expectations at every level due to weak performance, mainly from its largest revenue generating segment, Residential Telephony. In addition, margins were impacted y-o-y on account of significantly higher network operation costs. Considering the lower-than-expected 1Q 09 results, we expect to revisit our estimates and target price in our next update report....

15th Apr 2009 View Report   Download

Company News Alert

Maxcom Telecomunicaciones, S.A. de C.V.’s (Maxcom) ordinary participation certificate (CPO) price has appreciated 22% since our previous update report, supported by broader market recovery and fundamental factors outlined in our update report. We continue to expect upside potential from current levels and hence do not anticipate a change in our BUY rating for the Maxcom CPO. We will reassess our target price and rating after the company…

19th Mar 2009 View Report   Download

4Q 08 & FY 2008 Update Report

Maxcom is a relatively small player in Mexico compared to Teléfonos de Mexico S.A. de C.V. which dominates the fixed-line market. The company generates the majority of its revenues from local and long distance telephony services. However, the wireline business has been negatively impacted by migration of subscribers to mobile services. We expect sluggish growth for Maxcom in this segment…

9th Mar 2009 View Report   Download

Company News Alert

Maxcom Telecomunicaciones, S.A. de C.V.’s (Maxcom) ordinary participation certificate (CPO) price has declined significantly since our previous update report on account of general weakness in global markets, coupled with concerns of a slowdown in the Mexican economy. In addition, the company reported weak 4Q 08 and FY 2008 results as it continues to face strong competition from significantly larger…