Leading International Investment Research, Edison Investment Research

Edison Investment Research

Leading International Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Equity Bottom-Up

<p>The strategic partnership with Linkem, together with plans to expand its fibre offering, should increase GO’s addressable market and provide a much improved service to its existing wireless subscriber base. Despite this, the shares appear to discount a continued slowdown in subscriber growth from the wireless network with nothing in the price for fibre. We believe there is upside potential towards 220c/share.</p>

The strategic partnership with Linkem, together with plans to expand its fibre offering, should increase GO’s addressable market and provide a much improved service to its existing wireless subscriber base. Despite this, the shares appear to discount a continued slowdown in subscriber growth from the wireless network with nothing in the price for fibre. We believe there is upside potential towards 220c/share.

GO internet - Adding fibre and 5G capacity

<p>With funding in place, GO is stepping up the implementation of its network and we reduce FY17 EPS forecasts to capture this profile as well as the new &#8364;1.75m loan, but leave FY18 estimates largely unchanged. A pick-up in the pace of subscriber additions could trigger upside to our base case DCF of &#8364;2.8/share. In addition, with 3.5GHz now earmarked for 5G services, GO&#8217;s spectrum could be used for a wider service offering in the longer term and may put it in focus for operators looking to secure 5G capacity.</p>

With funding in place, GO is stepping up the implementation of its network and we reduce FY17 EPS forecasts to capture this profile as well as the new &#8364;1.75m loan, but leave FY18 estimates largely unchanged. A pick-up in the pace of subscriber additions could trigger upside to our base case DCF of &#8364;2.8/share. In addition, with 3.5GHz now earmarked for 5G services, GO&#8217;s spectrum could be used for a wider service offering in the longer term and may put it in focus for operators looking to secure 5G capacity.

Italy

GO internet S.p.A. is a provider of broadband telecommunications in Italy. The Company offers internet services through the use of wireless technologies and phone services through voice over IP technology.

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GO Internet SpA (GO IM)

GO internet - Adding fibre and 5G capacity

The strategic partnership with Linkem, together with plans to expand its fibre offering, should increase GO’s addressable market and provide a much...

Edison Investment Research

Back on track

With funding in place, GO is stepping up the implementation of its network and we reduce FY17 EPS forecasts to capture this profile as well as the...

Edison Investment Research

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