New Street Research - Banco Inter SA Units Cons of 1 Sh + 2 Pfd Shs (BIDI11) New Street: BIDI 11 (Buy, TP: BRL41, +139%) Inter FY21 Update – Slight cut to TP, remain positive on US expansion

Report

New Street Research

Soomit Datta

EUR 9144.00 For Business Accounts Only

New Street: BIDI 11 (Buy, TP: BRL41, +139%) Inter FY21 Update – Slight cut to TP, remain positive on US expansion

We update estimates to reflect FY numbers and a slightly more cautious tone at the time from Inter’s CEO regarding a slowdown in loan portfolio growth.

17/03/2022 1 EN

Underlying

Banco Inter SA Units Cons of 1 Sh + 2 Pfd Shs

See profile

BRBIDICDAXX3 BM&F Bovespa - Securities, Commodities and Futures Exchange Brazil

Provider

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

See profile

Analysts

Soomit Datta

Other Reports on these Companies

New Street Research

New Street: INTR US (Neutral, TP: USD4.3, +54%) Consolidation / M&A in Fintech: Itau - Avenue deal

Rising interest rates and falling valuations are presenting consolidation opportunities in the LatAm fintech space. We have very recently written on a potential PagSeguro-Stone merger in the payments space (see HERE) and now run the numbers on Friday’s announced acquisition by Itau of a 35% stake in US broker deal Avenue.

EUR 9144.00

July 11, 2022 July 11, 2022 1 EN

New Street Research

New Street: BIDI11 BZ (Buy, TP: BRL35, +121%) Inter Q1s: Softer Revenues, NPLs in line and US listing close to finish

Inter reported Q1s after close yesterday. Revenue missed consensus by 2%, driven by weaker loan portfolio growth and yields. Net interest margin was down to 6.0% (vs 6.4% in Q4 21).

EUR 9144.00

May 18, 2022 May 18, 2022 1 EN

New Street Research

New Street: BIDI11 (Buy, TP: BRL43, +157%) Inter (Buy) - Q1 22 operational outlook: slowing credit originations

Inter reported Q1 22 KPIs after close last night. The market didn’t like the print, most likely due to the slowdown in credit originations (though peers were also weak today).

EUR 9144.00

April 13, 2022 April 13, 2022 1 EN

Tesla: We, Reboot.

We had the privilege to attend Tesla's "We, Robot" party last night at Warner Bros Studios. Please

12h / 32m 12h / 32m 1 EN

James Ratzer

James Ratzer

Deutsche Telekom (Buy, €36, +33%) CMD feedback: Conclusions on use of capital

Deutsche Telekom’s CMD has just concluded and in this note we wrap up key learnings, in particular on time we spent with the CEO and the Head of Germany on US M&A options and German fibre rollout plans.

EUR 9144.00

13h / 21m 13h / 21m 1 EN

Blair Levin

Blair Levin

If Trump Wins, How Will Musk Affect Telecom Policy?

We don’t have to convince anyone that Elon Musk is totally committed to electing Trump and Congressional Republicans. We don’t have to convince anyone that given Musk’s level of support, Trump as well as many Republicans in Congress will be happy to have an FCC, NTIA, and other instrumentalities of the Federal Government in charge of telecom generally do what Musk wants. Still, the consequences of those two evident facts are the most underappreciated potential telecom policy consequences of the election. The question that investors should be considering is how will Musk’s influence affect gov...

EUR 9144.00

15h / 15m 15h / 15m 1 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

New Street: BIDI 11 (Buy, TP: BRL41, +139%) Inter FY21 Update – Slight cut to TP, remain positive on US expansion

New Street: INTR US (Neutral, TP: USD4.3, +54%) Consolidation / M&A in Fintech: Itau - Avenue deal

New Street: BIDI11 BZ (Buy, TP: BRL35, +121%) Inter Q1s: Softer Revenues, NPLs in line and US listing close to finish

New Street: BIDI11 (Buy, TP: BRL43, +157%) Inter (Buy) - Q1 22 operational outlook: slowing credit originations

Tesla: We, Reboot.

Deutsche Telekom (Buy, €36, +33%) CMD feedback: Conclusions on use of capital

If Trump Wins, How Will Musk Affect Telecom Policy?

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe