AMX - Upgrade to Buy (TP: $27): Lifting Mexican Wireless; Strong balance sheet, Rising cash return
With good ARPU support from post-paid 5G, and in launch phase for pre-paid, we are lifting mid-term estimates for Mexican wireless (worth $2.5/ADR); we think this business, with a globally unique market structure, merits a 9x 24e EBITDA multiple.
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
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