Report
Allan C. Nichols

European operations are beginning to help Deutsche Telekom's results.

Deutsche Telekom reported good first-quarter results when adjusted for currency movements. The firm reported revenue down 3.9% year over year, though most of this was due to the euro strengthening versus the U.S. dollar. On an organic basis, the firm’s revenue grew 3.1% versus our full-year projection of 2.3%. We expect to maintain our EUR 17 per local share fair value estimate and no-moat rating and believe the shares are undervalued.
The firm’s main driver continues to be T-Mobile US, which in...
Underlying
Deutsche Telekom AG ADS

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Allan C. Nichols

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