Report
Michael Hodel
EUR 147.86 For Business Accounts Only

Despite improving operating performance recently, we still believe U.S. Cellular lacks a moat.

U.S. Cellular continued to plod along during the second quarter, slowly shedding postpaid market share as the competitive environment remains challenging. Our thesis on the firm is unchanged. We believe U.S. Cellular operates at a substantial competitive disadvantage to its larger rivals and that the firm's assets are worth far more to another carrier than as a stand-alone operation. Our fair value estimate is unchanged, leaving the shares fairly valued, in our view. 
Net postpaid additions show...
Underlying
United States Cellular Corp

United States Cellular provides wireless telecommunications services. The company's customers are able to choose from a variety of national plans with voice, messaging and data usage options and pricing. The company's fourth generation Long-Term Evolution network features smartphone messaging, data and internet services that allow customers to access the internet; text, picture and video message; utilize GPS navigation; and browse and download applications to customize their wireless devices to fit their lifestyles. The company also provides wireless solutions to consumers and business and government customers, including a suite of connected machine-to-machine solutions and software applications.

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
Michael Hodel

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