Report
Alex Zhao
EUR 101.80 For Business Accounts Only

We've Added Quebecor to the Best Ideas List as It’s Our Favorite Canadian Telecom

We have added narrow-moat Quebecor to our Best Ideas list. Trading at about a 10% discount to our fair value estimate of CAD 27, Quebecor is our favorite of the five Canadian telecoms we cover because of its market strength in Quebec and the long growth runway in the region. Quebecor's highly profitable cable subsidiary, Videotron, holds a very advantageous market position in Quebec based on the breadth and strength of its network and high household penetration. Leveraging its cable advantage, V...
Underlying
Quebecor Inc. Class B

Quebecor is a holding company. Through its subsidiaries, Co. is engaged in cable services; residential and business telecommunications; newspaper publishing; production and distribution of print media products; broadcasting; retailing, publishing and distribution of books, magazines and videos; recording, production and distribution of music; and new media services. As of Dec 31 2010, Co. had 1,811,570 cable television customers, 1,252,100 subscribers to cable Internet access services, 1,114,300 subscribers to cable telephony service, and 136,100 subscribers to mobile telephony services.

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
Alex Zhao

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