USM Quick Take: Special Dividend Confirms Our Prior Value (TP: $76; +5%)
At the beginning of the year, we laid out a value for USM of $75. We have just refreshed our work to account for the announced special dividend ($23 per share; $2BN in aggregate) and the financials provided in the 8-K the company filed yesterday. We find that the equity, which will be called Array Digital Infrastructure and trade under the ticker "AD" starting in a week, is worth at least $76 per share (+5%).
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
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- Asian Internet
- Pan European Healthcare
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We provide debt research on:
- Pan European Telecom Services and Cable
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