Telefonica Brasil Ended 2017 on a Strong Note With Wireless Recovery in Brasil; Maintaining $15 FVE
Telefonica Brasil posted solid fourth-quarter results on wireless strength offsetting weaker fixed-line performance and strong profitability. We continue to see evidence of a sustained recovery in the wireless market and we are also impressed with the firm’s cost-cutting efforts. We maintain our no-moat and positive moat trend ratings on potential competitive threats in Brazil. Since our projections already assume top-line recovery and margin expansion, we are maintaining our fair value estimate...
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.
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