Differentiated global TMT & Internet Research

New Street Research Insights

New Street Research

Research is provided by our team of experienced analysts. Our work is idea driven, based on independence of thought, sector expertise, and firmly focused on fundamentals and valuation of telecoms and internet names globally. New Street is headquartered in London with offices in New York, Singapore and Australia. 

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
Japan Telecoms
Asian Internet
Pan European Healthcare
US Healthcare
Japanese Healthcare

We also provide debt research on:
Pan European Telecom Services and Cable

Equity Bottom-Up

These days, Telcos are often seen as near utilities. New Street Research believes this is a dangerous belief. Telecoms is a technology business and the fact that the industry looks broadly similar to 20 years ago does not mean the status quo will remain. &nbsp;The growth of data is the trigger for change. For a variety of reasons we believe a "reversion to mean" for telcos will unfold with high return and value markets underperforming and some low return markets outperforming. &nbsp;Markets at risk include Thailand and Malaysia while India stands out as a potential winner.

These days, Telcos are often seen as near utilities. New Street Research believes this is a dangerous belief. Telecoms is a technology business and the fact that the industry looks broadly similar to 20 years ago does not mean the status quo will remain. &nbsp;The growth of data is the trigger for change. For a variety of reasons we believe a "reversion to mean" for telcos will unfold with high return and value markets underperforming and some low return markets outperforming. &nbsp;Markets at risk include Thailand and Malaysia while India stands out as a potential winner.

Beware highly  valued EM Telcos. We expect reversion to mean and see opportunity in the laggards.

Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

Download the Morningstar Fact Sheet : http://corporate.morningstar.com/US/documents/MarketingFactSheets/AboutMorningstarFactsheet.pdf

Thematic (Sector/Industry)

Growth in the second quarter was revised up from 3.7% to 3.9%, beating the consensus estimate of 3.7% growth.It was what economists like to call a high-quality revision as the contribution from inventory expansion was now just 0.2% instead of 0.4%, meaning fewer goods were piling up on shelves.More than offsetting the downward inventory calculation was a large revision to consumer spending, primarily the services-related category.Consumer spending grew at a 3.6% rate in the second quarter, one of the best performances of this recovery and constituting almost two thirds of total GDP growth.Most of the construction-related categories were also revised higher.Analysts: Robert Johnson CFA &amp; Roland CzerniawskiFull report below the fold...&nbsp;

Growth in the second quarter was revised up from 3.7% to 3.9%, beating the consensus estimate of 3.7% growth.It was what economists like to call a high-quality revision as the contribution from inventory expansion was now just 0.2% instead of 0.4%, meaning fewer goods were piling up on shelves.More than offsetting the downward inventory calculation was a large revision to consumer spending, primarily the services-related category.Consumer spending grew at a 3.6% rate in the second quarter, one of the best performances of this recovery and constituting almost two thirds of total GDP growth.Most of the construction-related categories were also revised higher.Analysts: Robert Johnson CFA &amp; Roland CzerniawskiFull report below the fold...&nbsp;

U.S. Economy Picks up the Pace: We're bumping up our 2015 GDP forecast

Listed Real Estate Asia, KT Capital Group

Jacob Cheng

Listed Real Estate Asia

KT Capital Group

Principal investments and advisory firm that focuses on connecting the CIS countries with East Asia.

Principal investments and advisory firm

<ul>
<li>This insight is a short note that aims to ride on short term momentum for the stock</li>
<li>Since April, southbound trade contributes to 72% of China Mobile H-share turnover.  So, southbound trade is the major share driver</li>
<li>For entire market, A-share is trading at 40% premium to H-share.  For China mobile, the A/H premium is currently at 80%. Strong upside for H-share if premium is to narrow</li>
</ul>


This insight is a short note that aims to ride on short term momentum for the stock
Since April, southbound trade contributes to 72% of China Mobile H-share turnover.  So, southbound trade is the major share driver
For entire market, A-share is trading at 40% premium to H-share.  For China mobile, the A/H premium is currently at 80%. Strong upside for H-share if premium is to narrow


Actionable Tactical Trade: Long China Mobile H-Share 941HK on Strong Southbound Momentum & A/H Prem.

Hong Kong

China Mobile Limited provides telecommunication services. The Company offers wireline voice, broadband, roaming, and other related services. China Mobile serves customers in Hong Kong.

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52-week Range	0.00 - 0.00
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China Mobile (941 HK)

Beware highly valued EM Telcos. We expect reversion to mean and see opportunity in the laggards.

These days, Telcos are often seen as near utilities. New Street Research believes this is a dangerous belief. Telecoms is a technology business and...

New Street Research

U.S. Economy Picks up the Pace: We're bumping up our 2015 GDP forecast

Growth in the second quarter was revised up from 3.7% to 3.9%, beating the consensus estimate of 3.7% growth.It was what economists like to call a...

Morningstar, Inc.

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Beware highly valued EM Telcos. We expect reversion to mean and see opportunity in the laggards.

These days, Telcos are often seen as near utilities. New Street Research believes this is a dangerous belief. Telecoms is a technology business and...

New Street Research

U.S. Economy Picks up the Pace: We're bumping up our 2015 GDP forecast

Growth in the second quarter was revised up from 3.7% to 3.9%, beating the consensus estimate of 3.7% growth.It was what economists like to call a...

Morningstar, Inc.

Actionable Tactical Trade: Long China Mobile H-Share 941HK on Strong Southbound Momentum & A/H Prem.

This insight aims to explore the short-term trade momentum for China Mobile 941 HK. 1) Strong Southbound flow has been driving the share price 2)...

Jacob Cheng