New Street Research - Liberty Latin America Ltd (LILA) LILA (Buy, TP: $15, +80%) Liberty LA - OK start, more to do through 2023

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New Street Research

Soomit Datta

EUR 9179.00 For Business Accounts Only

LILA (Buy, TP: $15, +80%) Liberty LA - OK start, more to do through 2023

Liberty LA reported Q1s after close. Numbers were in-line at revenue and a touch ahead of us at EBITDA, with a slight sequential recovery in Puerto Rico margins and better profitability in Costa Rica offsetting (ongoing) weakness in Panama.

09/05/2023 1 EN

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Liberty Latin America Ltd

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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

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Analysts

Soomit Datta

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LILA (Buy, TP: $15, +80%) Liberty LA - OK start, more to do through 2023

Liberty LA (Buy, TP: $13, +50%) Liberty LA - Confidence in FCF grows, buy-back squeezing yield higher

AMX US (Buy, TP: $27, +23%) LILA US (Buy, TP: $14 (from $15), +85%) AMX/LILA - Chile shareholder loans: Still no positive Equity value, AMX set to take control

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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