New Street Research - NOS SGPS SA (NOS) NOS (Neutral, TP: €4.4, +5%) Q4 22: Very good trends, extraordinary cash return (10% yield)

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New Street Research

Russell Waller

EUR 9330.00 For Business Accounts Only

NOS (Neutral, TP: €4.4, +5%) Q4 22: Very good trends, extraordinary cash return (>10% yield)

NOS has reported yet another good set of numbers, with EBITDA c2.8% ahead of consensus expectations.

08/03/2023 1 EN

Underlying

NOS SGPS SA

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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PTZON0AM0006 Euronext Lisbon Portugal

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Analysts

Russell Waller

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NOS (Neutral, TP: €4.4, +5%) Q4 22: Very good trends, extraordinary cash return (>10% yield)

NOS SGPS SA: 1 director

New Street: NOS (Neutral, TP: €4.2, +15%) Q3 22: B2C revenue and Telecoms EBITDA growth acceleration - Quick Take

MTN (Buy, TP: ZAR130, +42%) MTN Ghana – Q1 24: Good start to the year

AMX (Buy, TP: $24, +25%) Why a seemingly (quite) healthy Telco just filed for Chapter 11. Twice.

Liberty Global (Neutral) Q1 24 - The challenge of subscriber momentum

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