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

<p>Globe Telecom (GLO PM) has been a long term outperformer vs PLDT (TEL PM) in the Philippines. While it continues to gain market share for now, we see challenges on the horizon. PLDT is ramping up capex which Globe will need to react to while there is a potential third operator in the San Miguel/Teltra venture. Globe's stock price has stopped outperforming in the past 2 months and we are concerned that cash flow generation will be hurt by a need to boost capex. &nbsp;It may be too soon to turn positive on PLDT given its poor performance and the risk of increased competition, but we are increasingly cautious around Globe.</p><p>&nbsp;</p>

Globe Telecom (GLO PM) has been a long term outperformer vs PLDT (TEL PM) in the Philippines. While it continues to gain market share for now, we see challenges on the horizon. PLDT is ramping up capex which Globe will need to react to while there is a potential third operator in the San Miguel/Teltra venture. Globe's stock price has stopped outperforming in the past 2 months and we are concerned that cash flow generation will be hurt by a need to boost capex. &nbsp;It may be too soon to turn positive on PLDT given its poor performance and the risk of increased competition, but we are increasingly cautious around Globe.&nbsp;

Globe Telecom

Has Globe (GLO PM) Run Its Course?