Deutsche Telekom to Benefit From Acquisitions in Austria and the Netherlands
Deutsche Telekom reported solid fourth-quarter results, which pushed its full-year results slightly ahead of our projections. However, we already expected a strong 2019, so our projections are in line with management’s 2019 guidance. Thus, we don’t anticipate any significant changes to our EUR 17 per local share fair value estimate. Our no-moat rating remains intact, and we believe the shares are slightly undervalued.The firm reported revenue growth of 5.7% year over year in the fourth quarter...
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