New Street Research - Vantage Towers (VTWR GR) (VTWR) New Street: Vantage Towers (Neutral, €34, +10%) Decent Q4, but slightly lacklustre FY23 guidance

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New Street Research

James Ratzer

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New Street: Vantage Towers (Neutral, €34, +10%) Decent Q4, but slightly lacklustre FY23 guidance

Vantage Towers' Q4 results were decent from a financial perspective, but KPIs are being held back by difficulties in deploying new towers that will persist into FY23.

16/05/2022 1 EN

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Vantage Towers (VTWR GR)

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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
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We provide debt research on:

Pan European Telecom Services and Cable

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Analysts

James Ratzer

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New Street: Vantage Towers (Neutral, €34, +10%) Decent Q4, but slightly lacklustre FY23 guidance

EU Towers Review Cellnex - Stonepeak deal gives us an opportunity to revisit

EU Towers Are private tower valuations cooling? Downgrade Inwit to Neutral

Vantage Towers (Neutral, €32, -3%) Guidance upgrade, but all eyes on tender result

SATS, Carr, and the Art of the No Deal…Yet

Supreme Court Upholds USF Framework but Reform Still Ahead

CMCSA quick hit: Comcast continues to make the right pricing moves

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