PHI - PLDT: Data Center Business Monetization Plan Draws Attention (Rating Upgrade)
2024-07-10 12:32:36 ET
Summary
- PLDT recently disclosed that it is considering the monetization of its data center business, which I view as a favorable corporate development.
- Assuming that PHI does sell a stake of its data center operations, this could possibly translate into lower financial leverage and a fast paced growth for the data center business.
- I upgrade my rating for PLDT to a Buy, after considering the positives associated with the data center asset monetization plan.
Elevator Pitch
PLDT stock ( PHI ) [TEL:PM] is assigned a Buy investment rating.
I previously looked at PLDT's home broadband operations and the company's outlook in my April 25, 2024 article . With the current write-up, my focus is on PHI's planned monetization of a partial interest in its data center business....
PLDT: Data Center Business Monetization Plan Draws Attention (Rating Upgrade)