New Street Research - America Movil S.A.B. de C.V. ADS (AMX) ... VIVT3 (Buy, TP: R$61, +15%) TIMS3 (Buy, TP: R$23, +43%) AMX (Buy, TP: $22, +37%) Vivo (BUY) and Brazil Q3 wrap - TIM lagging in wireless. NuCel the perceived overhang

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New Street Research

Soomit Datta

EUR 9480.00 For Business Accounts Only

VIVT3 (Buy, TP: R$61, +15%) TIMS3 (Buy, TP: R$23, +43%) AMX (Buy, TP: $22, +37%) Vivo (BUY) and Brazil Q3 wrap - TIM lagging in wireless. NuCel the perceived overhang

Rounding off the reporting season, Vivo reported solid Q3s results with a 3% beat at EBITDA and the best postpaid net adds in Brazil this quarter.

07/11/2024 1 EN

Underlyings

America Movil S.A.B. de C.V. ADS

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US02364W1053 New York Stock Exchange Mexico

Tim Brasil SA

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New Street Research

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Soomit Datta

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VIVT3 (Buy, TP: R$61, +15%) TIMS3 (Buy, TP: R$23, +43%) AMX (Buy, TP: $22, +37%) Vivo (BUY) and Brazil Q3 wrap - TIM lagging in wireless. NuCel the perceived overhang

NU US (Neutral, TP: $13, -15%) Q3 24: NuCel the Telco disrupter, diversifying from lending

TIM Brasil (Buy, TP: R$23, +43%) - Q3 24: In-line trends, Nubank and pricing concerns linger

Digi (Equal Weight) Q3 24: Capex up; Belgium/Portugal updates (not good for incumbents)

MTN (Buy, TP: ZAR130, +57%) Q3 24: Solid, SR growth back on track with MT guidance

Cisco 1FQ25: Order growth accelerating, momentum on multiple fronts. Buy, $64 TP

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