Monthly LMI Update Independent Investment Research

Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked. This compares to the total dividends of 5 cents per share in FY20. The Board has confirmed that, in...

New Street: HKT (Neutral, TP: HK$13.7, +27%) H121: Solid underlying trends, but catalysts remain limited

HKT reported a decent set of results despite the tough operating environment. The most encouraging aspect of the results is that 5G penetration is helping lift revenues, although roaming continues to be a drag.

CHTR Quick Hit: Charter Buys Back $140MM of Shares in April

Advance/Newhouse filed its latest Charter ownership disclosure earlier today. The buyback amount was slightly higher than consensus expectations. We now expect Charter to repurchase $500MM of shares in 2Q24.

What do HBM manufacturers have to say about AI growth in 2025?

TIMS3 (Buy, TP: BRL23, +24%) TIM Brasil - Solid Q1s, trending ahead of FY guide

TIM reported solid Q1 24 earnings overnight, coming in a shade of ahead of estimates (1% at EBITDA). Service revenue growth remains robust at >7% y/y, with some seasonality potentially impacting Q1 pre-pay revenue; EBITDA of +10% y/y and EBITDAaL +20% y/y is also very strong (and well ahead of 4% inflation), the latter enjoying historic lease reductions (though these are now sequentially stabilising). Q1 trends are tracking a touch above FY guide, potentially enabling further earnings uplift.