New Street: NOS (Neutral, TP: €4.3, +48%) Q2 21: Good, but not good enough to offset overhang - Quick Take
NOS has reported a solid set of numbers, with revenue +1.0% ahead of consensus and EBITDA +1.2% ahead. The spectrum auction, and new entrant risk though continues to weigh heavily on sentiment and the share price, and until there is clarity around the likely impact here, the long-term value opportunity is likely to remain under-priced.Nos SGPS is a holding company which is based in Portugal. Through its subsidiaries, Co. operates as a provider of telecommunications and media services. Co.'s subsidiaries main activities are data transmission, cable and satellite television, and internet services.
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- Pan European Telecom Services and Cable
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