In today’s briefing:
- Initiating Coverage on Telecom: Solid Market Position but Uncertain Outlook
- Lucror Analytics – Morning Views Asia
Initiating Coverage on Telecom: Solid Market Position but Uncertain Outlook
- We are initiating coverage on Telecom with a Market Perform recommendation. We view the notes as fairly valued considering the uncertainty surrounding the potential acquisition of Telefónica.
- Telecom maintains a strong market position, supported by its broad service scale and integrated offerings, which enhance customer retention and operational efficiency.
- We believe Telecom is well-positioned to benefit from these trends but see a better entry point once there is greater clarity on the acquisition’s implications.
Lucror Analytics – Morning Views Asia
- In the US, the JOLTS job openings decreased to 7.57 mn (7.66 mn e / 7.76 mn p) in February.
- The job openings rate fell slightly to 4.5% (4.6% e / 4.7% revised p), while the layoffs rate was stable at 1.1% (1.1% revised p).
- Separately, the March ISM manufacturing index declined to 49.0 (49.5 e / 50.3 p). This was driven by a drop in the new orders and employment components, while the prices paid component increased.
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