Report
Allan C. Nichols
EUR 103.64 For Business Accounts Only

SFR focuses on its fibre footprint to compete.

SFR posted mixed third-quarter results with weak revenue but strong margins. We don’t anticipate any significant changes to our fair value estimate. Our narrow-moat rating remains intact. The firm's revenue declined 2.4% versus our full-year projection of a drop of 2%. However, we believe it made some important progress. We believe SFR’s key advantage is in its superior fibre network, which now passes 8.9 million premises. The firm grew its fibre base 13.4% year over year to 2 million subscriber...
Underlying
SFR Group SA

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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