New Street Research - Liberty Global plc LiLAC (LILAB) New Street: Liberty LA (Buy, TP: $15, +120%) Chile and beyond; Eyes on the FCF prize

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New Street Research

Soomit Datta

EUR 9179.00 For Business Accounts Only

New Street: Liberty LA (Buy, TP: $15, +120%) Chile and beyond; Eyes on the FCF prize

After more weak financial performance for both local operators in Q2 in Chile, we update our JV modelling of Liberty’s proposed JV with Claro (AMX). Press commentary implies the deal could pass soon, which is a necessary first step for the stock to work.

06/09/2022 1 EN

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Liberty Global plc LiLAC

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Soomit Datta

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New Street: Liberty LA (Buy, TP: $15, +120%) Chile and beyond; Eyes on the FCF prize

Liberty LA (Buy, TP: $13, +60%) Q1 24 - Tough optics in Q1, but PR EBTDA reiterated and turbo-charged buy back

Liberty LA (Buy, TP: $13, +110%) Liberty LA - T-Mobile FWA in Puerto Rico: clarification on pricing

LILA US (Buy, TP: $13, +102%) Call with CFO Chris Noyes / T-Mobile FWA in Puerto Rico

Bible 1Q24 – Foundries: leading-edge strong; Trailing-edge correction playing out.

VEON (Buy, TP: $40, +55%) Thoughts after the call

Reddit (RDDT, Neutral, $54 target) Data licensing tracking our base case after OpenAI deal

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