Q1: solid underlying growth and reiterated FCF outlook, but the market focused on the (weak) volatile cash flow in Q1. Uncertainty, limited re-rating potential and soft valuation support. HOLD.

25 Apr 2024
Cash flow volatility was not appreciated

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Cash flow volatility was not appreciated
- Published:
25 Apr 2024 -
Author:
Simon Granath | ABGSC Telecom Operators Research | Øystein Elton Lodgaard | Oscar Rönnkvist -
Pages:
11 -
Q1: solid underlying growth and reiterated FCF outlook, but the market focused on the (weak) volatile cash flow in Q1. Uncertainty, limited re-rating potential and soft valuation support. HOLD.