New Street Research - MTN (MTN) New Street: MTN (Buy, TP: ZAR250, +89%) Q3 22: Decent group trends; slower SA trends offset by solid results from the other large assets

Report

New Street Research

Chris Hoare

EUR 8824.00 For Business Accounts Only

New Street: MTN (Buy, TP: ZAR250, +89%) Q3 22: Decent group trends; slower SA trends offset by solid results from the other large assets

MTN has reported a decent set of Q3 22 results today. This comes on the back of improving numbers out of Nigeria, Ghana (HERE and HERE). Trends in SA have slowed again as the macro remains challenging and loadshedding continues to impact the network availability.

04/11/2022 1 EN

Underlying

MTN

See profile

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 on these Companies

New Street Research

MTN (Buy, TP: ZAR130, +16%) MTN Rwanda – Q4 24 Quick take: Still mixed

MTN Rwanda has reported a mixed set of Q4 numbers. Service revenue trends continued to inflect, and the company achieved its FY24 guidance for service revenue growth, but EBITDA trends slightly deteriorated.

EUR 11725.00

March 14, 2025 March 14, 2025 1 EN

New Street Research

MTN (Buy, TP: ZAR130, +11%) MTN Uganda – Q4 24 Quick Take: Slower but solid quarter; MT guidance reiterated

MTN Uganda has reported a slower but solid set of Q4 numbers and has reiterated medium-term guidance.

EUR 8824.00

March 6, 2025 March 6, 2025 1 EN

New Street Research

Nigerian Telcos Nigerian Telcos – Price increase is finally coming, is Nigeria about to go from Zero to Hero?

A price increase is coming soon according to the Nigerian press. The magnitude is not yet known but this is positive news (potentially very positive) for the Nigerian Telcos, Airtel Africa and MTN.

EUR 8824.00

January 10, 2025 January 10, 2025 1 EN

CHTR 1Q25 Quick Take: Net adds a little soft; EBITDA beat

Net adds missed estimates, but the miss was less severe than some might have feared following Comcast’s results. Importantly, adds in existing markets improved year-over-year. EBITDA growth was 3.5% after adjusting for a one-time benefit. This was well ahead of expectations. Estimates for EBITDA and FCF will likely increase for the year. Repurchases are back, and the Company seemed to reaffirm a leverage target of 4.25x. Repurchase estimates should increase too with higher EBITDA and FCF.

EUR 8824.00

22m 22m 1 EN

Blair Levin

Blair Levin

NSR Policy Implications of Hegseth’s Woes on Key Spectrum Battle

Secretary of Defense Hegseth continues to struggle in controlling the narrative about his leadership, leading to reports that the White House is looking for a replacement (which the White House denies.) In this note we analyze the implications of those struggles for the key spectrum battle involving the Department of Defense (DoD) and the wireless industry.

EUR 8824.00

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

Chris Hoare

Chris Hoare

Megacable (Neutral, TP: MXN55, +21%) Q1 25: Slightly slower but solid overall

Megacable has reported a decent set of Q1 results. Revenue came in a touch below expectations while EBITDA came in a touch above. Financial and KPI trends slowed this quarter but remained solid across the board

EUR 8824.00

1h / 50m 1h / 50m 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

New Street: MTN (Buy, TP: ZAR250, +89%) Q3 22: Decent group trends; slower SA trends offset by solid results from the other large assets

MTN (Buy, TP: ZAR130, +16%) MTN Rwanda – Q4 24 Quick take: Still mixed

MTN (Buy, TP: ZAR130, +11%) MTN Uganda – Q4 24 Quick Take: Slower but solid quarter; MT guidance reiterated

Nigerian Telcos Nigerian Telcos – Price increase is finally coming, is Nigeria about to go from Zero to Hero?

CHTR 1Q25 Quick Take: Net adds a little soft; EBITDA beat

NSR Policy Implications of Hegseth’s Woes on Key Spectrum Battle

Megacable (Neutral, TP: MXN55, +21%) Q1 25: Slightly slower but solid overall

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