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

Thematic (Sector/Industry)

Returns in emerging market wireless telecoms have bottomed as the sector takes a capex holiday after the 4G roll-out. We continue to like low-return markets where we look for returns to rise (e.g. India, Indonesia, China are prime examples). We have also become more bullish where returns are high and stable (e.g. Hong Kong). A number of markets continue to face tough conditions typically due to rising spectrum payments (e.g. Malaysia and Thailand).Higher returns imply higher cash flows and that is good news for both debt reduction and rising dividends. it also may encourage more M&amp;A, an area we think makes sense for in market consolidation and fixed/wireless convergence.In terms of stocks, we favor names such as <a href="https://www.smartkarma.com/entities/953" target="_blank" data-smartkarma-citation="entities:953:1">Bharti Airtel (BHARTI IN)</a> , <a href="https://www.smartkarma.com/entities/1016" target="_blank" data-smartkarma-citation="entities:1016:1">China Unicom (762 HK)</a>, Telefonica Brasil, <a href="https://www.smartkarma.com/entities/15028" target="_blank" data-smartkarma-citation="entities:15028:1">XL Axiata (EXCL IJ)</a> and <a href="https://www.smartkarma.com/entities/873" target="_blank" data-smartkarma-citation="entities:873:1">PCCW (8 HK)</a>. Top shorts include <a href="https://www.smartkarma.com/entities/946" target="_blank" data-smartkarma-citation="entities:946:1">Maxis (MAXIS MK)</a> and <a href="https://www.smartkarma.com/entities/947" target="_blank" data-smartkarma-citation="entities:947:1">AIS (ADVANC TB)</a> .

Returns in emerging market wireless telecoms have bottomed as the sector takes a capex holiday after the 4G roll-out. We continue to like low-return markets where we look for returns to rise (e.g. India, Indonesia, China are prime examples). We have also become more bullish where returns are high and stable (e.g. Hong Kong). A number of markets continue to face tough conditions typically due to rising spectrum payments (e.g. Malaysia and Thailand).Higher returns imply higher cash flows and that is good news for both debt reduction and rising dividends. it also may encourage more M&amp;A, an area we think makes sense for in market consolidation and fixed/wireless convergence.In terms of stocks, we favor names such as Bharti Airtel (BHARTI IN) , China Unicom (762 HK), Telefonica Brasil, XL Axiata (EXCL IJ) and PCCW (8 HK). Top shorts include Maxis (MAXIS MK) and AIS (ADVANC TB) .

Emerging Market Telecoms: Returns Have Bottomed. Outlook Improves.

Japan

OKINAWA CELLULAR TELEPHONE COMPANY provides cellular and car phone services in Okinawa Prefecture.  The Company also sells cellular phones and accessories.

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Okinawa Cellular Telephone (9436 JP)

Emerging Market Telecoms: Returns Have Bottomed. Outlook Improves.

Returns in emerging market wireless telecoms have bottomed as the sector takes a capex holiday after the 4G roll-out. We continue to like...

New Street Research

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