Sunday 27 May
Powered by Ajaxy
Jan 23, 2018 @ 22:41

Top 5 reasons why Morgan Stanley has upgraded Globe to overweight

 

Global brokerage firm Morgan Stanley has upgraded Globe Telecoms from underweight to overweight, citing expectations of sustained growth amid the Ayala-led firm’s continued massive expansion program.

A stock rating of overweight means that the stock’s total return is expected to exceed the average total return of the Morgan Stanley analyst’s industry (or industry team’s) coverage universe, on a risk-adjusted basis, over the next 12 to 18 months.

In justifying the upgrade, Morgan Stanley said “Globe has been winning market share from competition in the mobile and broadband segments, which has resulted in Globe outperforming competition by six percent in 2017.”

Morgan Stanley likewise cited Globe’s efforts to significantly increase its capex to improve its network.

Globe has earmarked $850 million for the continued expansion of its mobile and fixed broadband networks.

“We see Globe’s effort in driving improvements in the network as a positive for growth,” the Ayala-led telco said.

Apart from this, Morgan Stanley noted Globe’s lower depreciation charges, increases in data monetization and improvement in customer growth.

Tags: , , , , , ,

Related Stories
Bilyonaryo Manuel Villar plans to convert a 1,000 hectare property in Dasmarinas, Cavite into a
The Philippine government is eyeing to raise additional funding from global investors.
The Asian Development Bank returned to the US dollar bond market with a bang, as
The Securities and Exchange Commission has approved PAL Holdings' application for quasi-reorgnization, which involves the


 

Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.