reports
- Felix Fischer
PBR.N PETROLEO BRASILEIRO S/A ADS
MELI MERCADOLIBRE INC.
GTE GRAN TIERRA ENERGY
GPRK GEOPARK
ARCO ARCOS DORADOS HOLDINGS INC. CLASS A
ACD ADECOAGRO S.A.
CENCOSUD CENCOSUD S.A.
AZTECA.CPO TV AZTECA S.A. DE C.V. CPO
VCM.B VOLCAN COMPANIA MINERA S.A.A. CLASS B
4FZ ORBIA ADVANCE CORP. SAB DE CV
PAMP PAMPA ENERGIA SA
ALSEA ALSEA S.A.B. DE C.V.
MINSURI1 MINSUR S.A.
FALABELLA FALABELLA S.A.
TGSU2 TRANSPORTADORA DE GAS DEL SUR SA CLASS B
YPFD YPF SA CLASS D
KUOB GRUPO KUO S.A.B.
ECOPETROL ECOPETROL SA
AEROMEX GRUPO AEROMEXICO
PFAVH AVIANCA HOLDINGS SA PFD
INRETC1 INRETAIL PERU
AESGENER AES GENER S.A.
TIGO SDB MILLICOM INTERNATIONAL CELLULAR SA SWEDISH DEPOSITORY RECEIPT
NEMAKA NEMAK S.A.B. DE C.V.
CEXA CEMEX SAB DE CV (ADR)
TUPY3 TUPY S/A ORD
UGPA3 ULTRAPAR PARTICIPACOES S.A.
USIM5 USINAS SIDERURGICAS DE MINAS GERAIS PREF A
NATU3 NATURA & CO HOLDING SA
LTM LATAM AIRLINES GROUP SA
FEC FRONTERA ENERGY CORP
NEXA NEXA RESOURCES S.A.
RAIL3 RUMO SA
KALLPA KALLPA
CSNA3 COMPANHIA SIDERURGICA NACIONAL
VALE3 VALE S.A.
KLBN3 KLABIN SA
AMBP3 AMBIPAR PARTICIPACOES E EMPREEN
SUZANO SUZANO
UNIGEL UNIGEL
- ABGSC Telecom Equipment Research
- Oscar Rönnkvist
- Simon Granath
- Soomit Datta
- Soomit Datta
- ABGSC Telecom Operators Research
- Oscar Rönnkvist
- Øystein Elton Lodgaard
- Simon Granath
- Filipe Botelho
- Josseline Jenssen
- Lorena Reich
Lucror Analytics - Morning Views Latam
In today's Morning Views publication we comment on developments of the following high yield issuers: Frontera Energy, Aegea, Braskem, YPF, Petrobras, Millicom, Iochpe-Maxion, Canacol, Geopark, Rumo, C&W Communications, Telecom Argentina, Minerva, LATAM Airlines, Aeromexico, Movida
- Soomit Datta
TIGO (Buy, TP: $34, +29%) Millicom - Q3 24: Solid quarter; raised EFCF...
Millicom has reported a solid set of results with improving service revenue trends, a nice reversal in Home Broadband nets adds (driven by Colombia) and strong EFCF this quarter. The company has lifted its FY24 guidance for EFCF to ~$650m from “more than $600m previously” – though consensus is close to this level for FY24.
- ABGSC Telecom Operators Research
- Oscar Rönnkvist
- Øystein Elton Lodgaard
- Simon Granath
- Soomit Datta
- ABGSC Telecom Operators Research
- Oscar Rönnkvist
- Øystein Elton Lodgaard
- Simon Granath
- ABGSC Telecom Operators Research
- Oscar Rönnkvist
- Øystein Elton Lodgaard
- Simon Granath
- Soomit Datta
- Felix Fischer
- Filipe Botelho
- Josseline Jenssen
- Lorena Reich
- ABGSC Telecom Operators Research
- Oscar Rönnkvist
- Øystein Elton Lodgaard
- Simon Granath
- Soomit Datta
AMX(Buy, TP: $22, +34%) America Movil - Q3 24: Accelerating growth, 4...
AMX reported a good set of Q3 numbers yesterday after close. Both revenue and EBITDA beat consensus by ~4%. Service revenue growth accelerated to 5.5% in Q3 vs. 4.7% last quarter and EBITDA growth accelerated to 7.3% from 6.9% in Q2. Almost all geographies beat.
- ABGSC Telecom Operators Research
- Oscar Rönnkvist
- Øystein Elton Lodgaard
- Simon Granath
- Soomit Datta
Millicom (Buy, TP: $30, +17%) Multiple M&A’s: Millicom (BUY) in Colom...
A series of transactions, involving four separate parties, have been proposed by Millicom (and with a MOU with Telefonica) which could take the patchy Colombian telco market to an effective duopoly, with Millicom as a strong no2. The deal could yet stumble (multiple parties, involves a formal privatization, regulation), will take a little while to consummate, leaves question marks over WOM (which filed for protection locally in April), but we think can comfortably create over $1 billion of syner...
- ABGSC Telecom Operators Research
- Oscar Rönnkvist
- Øystein Elton Lodgaard
- Simon Granath
- ABGSC Telecom Operators Research
- Oscar Rönnkvist
- Øystein Elton Lodgaard
- Simon Granath
- Soomit Datta
AMX (Buy, TP: $22, +32%) Televisa (Neutral, TP: $3.5, +58%) Megacable ...
AMX and Totalplay emerged as the strong performers in Q2, in terms of KPIs (Telmex the highest BB subs again) and financials (TPLAY 16% EBITDA y/y growth). MEGA continued good momentum, slowing perhaps a touch (and with weaker Corporate). Izzy (Televisa) continues to back off from chasing growth and focus more on FCF - helped by a cut in Cable capex (from $630m to $590m, or 22% of sales to 20%) and with deal synergies to come (MXN400m per Q).
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