New Street Research - Liquid Intelligent Technologies (High Yield) Q3 26: Strong quarter, expecting to be approaching the bond market shortly

Report

New Street Research

Chris Hoare

EUR 8451.00 For Business Accounts Only

Liquid Intelligent Technologies (High Yield) Q3 26: Strong quarter, expecting to be approaching the bond market shortly

Operationally Q3 results were strong. Net leverage improved sequentially to sit just below 3x as of end of Nov-25. The company expects to be in a good position to approach the bond market shortly.

29/01/2026 1 EN

Provider

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

See profile

Analysts

Chris Hoare

Other Reports from New Street Research

James Ratzer

James Ratzer

TalkTalk (Equal Weight) Post-Q3 model update: The customer growth vs. SAC trade-off

Following the Q3 results yesterday, we have updated our forecasts to reflect weaker-than-expected subscriber trends in the quarter. While FY26 revenue guidance remains intact, the deterioration in customer volumes leads us to reduce our medium-term subscriber assumptions and, in turn, our longer-term revenue expectations. We assess the impact this has on value and the potential for higher future SAC spending.

EUR 8451.00

2h / 36m 2h / 36m 1 EN

Chris Hoare

Chris Hoare

Singtel (Buy, S$6.2, +29%) STT GDC acquisition – Strategically sensible, but near term share price consolidation likely

Singtel announced it is acquiring a 25% stake in STT GDC. The deal was well flagged and we believe makes strategic sense but the detail is slightly underwhelming suggesting the stock is likely to see some profit taking near term.

EUR 8451.00

4h / 19m 4h / 19m 1 EN

Dan Salmon

Dan Salmon

The Match Group (MTCH, Neutral, $31 target) Turnaround continues but Tinder monetization inflection still not on the horizon

In this first take following tonight’s results, we focus on: 1. More progress at Tinder, Hinge humming, buying back another 7% of stock 2. Investments in marketing/user experience drive improving Tinder MAU declines 3. Could Hinge be bigger than Tinder eventually? 4. Capital return is still robust as the dividend is increased

EUR 8451.00

7h / 53m 7h / 53m 1 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

Liquid Intelligent Technologies (High Yield) Q3 26: Strong quarter, expecting to be approaching the bond market shortly

TalkTalk (Equal Weight) Post-Q3 model update: The customer growth vs. SAC trade-off

Singtel (Buy, S$6.2, +29%) STT GDC acquisition – Strategically sensible, but near term share price consolidation likely

The Match Group (MTCH, Neutral, $31 target) Turnaround continues but Tinder monetization inflection still not on the horizon

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe