New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

  • Pan European Telecom Services and Cable
  • US Telecoms, Cable, Satellite and Towers
  • Global Emerging Market Telecoms
  • Japan Telecoms
  • Asian Internet
  • Pan European Healthcare
  • Global healthcare thematic research

We provide debt research on:

  • Pan European Telecom Services and Cable


Soomit Datta

New Street: Brazil Telecoms: Oi - CEO/CFO Investor Call Feedback

We hosted an Investor call with CEO and CFO of Oi, Rodrigo Abreu and Camille Faria on Monday.

Russell Waller

New Street: Telenor Q3 20: Impressive cost control leads to EBITDA beat and raise

Telenor has reported a similar set of Q3s to Telia (read about Telia HERE) – weak at the SR level, but good at EBITDA.

Soomit Datta

New Street: AMX Q3s Quick Take - Revenue recovery, buy-back already moving up

AMX reported Q3s after close. Group service revenue recovered to 5.4% y/y in Q3 from 0.8% y/y in Q2 with most markets showing better trends.

Alastair Jones

New Street: Korean telcos: Cheaper 5G tariffs not required to drive take-up

The big difference between the 4G and 5G launch in Korea has been expensive 5G tariffs, whereas 4G had both premium and low-end tariffs.

Russell Waller

New Street: Telia Q3 20: Good EBITDA beat and guidance raise – Quick Take

Telia has reported a strong set of Q3 20 results, with EBITDA nearly 5% ahead of consensus expectations (3% ex Media).

Soomit Datta

New Street: Brazil Telecoms: Oi - CEO/CFO Investor Call Feedback

We hosted an Investor call with CEO and CFO of Oi, Rodrigo Abreu and Camille Faria on Monday.

Russell Waller

New Street: Telenor Q3 20: Impressive cost control leads to EBITDA beat and raise

Telenor has reported a similar set of Q3s to Telia (read about Telia HERE) – weak at the SR level, but good at EBITDA.

Soomit Datta

New Street: AMX Q3s Quick Take - Revenue recovery, buy-back already moving up

AMX reported Q3s after close. Group service revenue recovered to 5.4% y/y in Q3 from 0.8% y/y in Q2 with most markets showing better trends.

Alastair Jones

New Street: Korean telcos: Cheaper 5G tariffs not required to drive take-up

The big difference between the 4G and 5G launch in Korea has been expensive 5G tariffs, whereas 4G had both premium and low-end tariffs.

Russell Waller

New Street: Telia Q3 20: Good EBITDA beat and guidance raise – Quick Take

Telia has reported a strong set of Q3 20 results, with EBITDA nearly 5% ahead of consensus expectations (3% ex Media).

Ben Rickett ...
  • Russell Waller
  • Shavar Halberstadt

New Street: W. Europe Mobile Tariff Tracker Nov 2019: Widespread discounting in UK

The average package price growth in Europe remained steady at +1.9% YoY (from +2.4% YoY in October). Widespread discounting in the UK following Black Friday was offset by higher prices in Spain, Portugal and Austria.

Ben Rickett ...
  • Russell Waller
  • Shavar Halberstadt

New Street: W. Europe Mobile Tariff Tracker Nov 2019: Widespread discounting in UK

The average package price growth in Europe remained steady at +1.9% YoY (from +2.4% YoY in October). Widespread discounting in the UK following Black Friday was offset by higher prices in Spain, Portugal and Austria.

New Street: Despite the rally Bharti could still double, Pt to INR 770, Buy

As telecom analysts we are often told that there are no money-making opportunities in the sector. However, in this important note we show what needs to happen for Bharti to double.

New Street: Despite the rally Bharti could still double, Pt to INR 770, Buy

As telecom analysts we are often told that there are no money-making opportunities in the sector. However, in this important note we show what needs to happen for Bharti to double.

Russell Waller ...
  • Shavar Halberstadt

New Street: Orange (Neutral from Buy) CMD 2019: The future’s bright (in 2023)

Orange held a CMD in Paris today that we attended. There were lots of sensible initiatives and proposals, but ultimately it fell short of the pre CMD hopes with only a small Tower sale, a small fibre deal and no AME IPO.

Dominic Rose ...
  • Naresh Chouhan

Global CDMOs - Impact of Alzheimer's Windfall

Our unique coverage of the biggest CDMO’s allows us to quantify the financial impact on the industry of a potential Alzheimer’s windfall from Biogen’s aducanumab. As the FDA filing draws closer, Biogen are likely to be involved in intense negotiations to find alternative sources of supply. Our highly detailed analysis shows how much aducanumab will need to be produced, who the winners are likely to be, the revenue uplift they may enjoy and the NPV uplift to each player. Lonza & Samsung Biologics are likely the biggest winners with Catalent close behind.

James Ratzer ...
  • Pierre FerraguÊ

EU Telecoms Sector Upgrade: Time to give the sector a fresh look – VOD and BT upgraded to Buy

European telecoms sector looks attractive – the past is not always a guide for the future: Investors and analysts have been browbeaten with generally poor trends in the European telecoms sector for many years.

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