Eolo: Q4 24 - Back to Equal Weight More positive longer-term, more cloudy near-term
We have been fans of the Eolo story and business model since we initiated – and the bonds have since tightened from 10.5% to 8% yield. However, given this move, combined with the Q4 results (which show higher churn) and the near-term capex impact of the Fastweb deal, we now move back to Equal Weight. While the Fastweb should be positive in the longer-term, the near-term implications are likely to lead to higher debt levels
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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
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We provide debt research on:
- Pan European Telecom Services and Cable
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