New Street: IQ 3Q21 Preview
What's new: In this note, we highlight the latest developments and updates on the company including financial outlook and regulatory updates on content approvals. We maintain our BUY rating but lower our PT from USD 27 to USD 18 due to the heightened regulatory environment on the entertainment industry including the fan-based economy, which may cause content delays to persist in the near-term. Our revised PT of USD 18 implies a 3.0x FY22E EV/Revs.Analysts:
Jin Yoon
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
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- Global Emerging Market Telecoms
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We provide debt research on:
- Pan European Telecom Services and Cable
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