Barclays Maintains an 'Equalweight' on Mobile Telesystems (MBT); Strong Quarter, Tough Outlook
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Price: $18.77 -2.39%
Rating Summary:
4 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
4 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade MBT Now!
Barclays maintains an 'Equalweight' on Mobile Telesystems (NYSE: MBT) price target of $18.20 (from $18.00).
Analyst, JP Davids, said, "Our global telecom analysis shows that CEEMEA outperformed global emerging market peers in 2Q12. MTS supported this theme, even if EBITDA beats were partly one-off in nature."
"Underlying forecasts unchanged. MTS's second quarter was buoyed by 1.1pp of
positive EBITDA margin one-offs (c$35m), and on an underlying basis our group
forecast remains broadly unchanged. However, earnings were negatively impacted
by the $1.1bn impairment at Uzbekistan in 2Q12 ($1.1/share) with our 2012 reported EPS forecast falling from $1.50 to $0.66 as a result. We do not assume a material contribution for this asset from 2013 onwards. We leave our dividend unchanged, despite this impairment charge."
For an analyst ratings summary and ratings history on Mobile Telesystems click here. For more ratings news on Mobile Telesystems click here.
Shares of Mobile Telesystems closed at $18.23 yesterday, with a 52 week range of $11.41-$19.76.
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Analyst, JP Davids, said, "Our global telecom analysis shows that CEEMEA outperformed global emerging market peers in 2Q12. MTS supported this theme, even if EBITDA beats were partly one-off in nature."
"Underlying forecasts unchanged. MTS's second quarter was buoyed by 1.1pp of
positive EBITDA margin one-offs (c$35m), and on an underlying basis our group
forecast remains broadly unchanged. However, earnings were negatively impacted
by the $1.1bn impairment at Uzbekistan in 2Q12 ($1.1/share) with our 2012 reported EPS forecast falling from $1.50 to $0.66 as a result. We do not assume a material contribution for this asset from 2013 onwards. We leave our dividend unchanged, despite this impairment charge."
For an analyst ratings summary and ratings history on Mobile Telesystems click here. For more ratings news on Mobile Telesystems click here.
Shares of Mobile Telesystems closed at $18.23 yesterday, with a 52 week range of $11.41-$19.76.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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