The relatively strong start to the year recorded in Q1 continued in Q2.
The group has slightly increased its 2022 EBITDA outlook and raised its 5G coverage ambition by the year end within an unchanged capex envelope.
We remain at Add on the stock which, like most telcos, was sold off last week in what might be termed a rotation into quality growth stocks at the expense of telcos (telcos having been up ytd 2022).
27 Jul 2022
Still an undeserved discount compared to the best in class telcos
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Still an undeserved discount compared to the best in class telcos
Telefonica Deutschland Holding AG (O2D:ETR) | 0 0 0.0%
- Published:
27 Jul 2022 -
Author:
Jean-Michel Salvador -
Pages:
3
The relatively strong start to the year recorded in Q1 continued in Q2.
The group has slightly increased its 2022 EBITDA outlook and raised its 5G coverage ambition by the year end within an unchanged capex envelope.
We remain at Add on the stock which, like most telcos, was sold off last week in what might be termed a rotation into quality growth stocks at the expense of telcos (telcos having been up ytd 2022).