Barclays Maintains an 'Equalweight' on Mobile Telesystems (MBT); Strong Quarter, Tough Outlook
Tweet
Share
E-mailGet Alerts MBT Hot Sheet
Price: $5.50 --0%
Rating Summary:
6 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
6 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
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.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery
- Va Tech Wabag Ltd. (VATW:IN) PT Raised to INR2,410 at ICICI Securities
- New Street Research Upgrades Micron Technology (MU) to Buy
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Barclays, Dividend, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
