TEF - Telefonica: Steadily Pushing Upward

2024-05-31 06:55:39 ET

Summary

• Telefonica has seen improvements in its results, with accelerating revenue and EBITDA growth, low churn rates, and enhanced customer experience.
• The company has achieved its goals in terms of fiber, infra growth, and coverage, with 5G coverage at 63% in core markets.
• Telefonica's FCF is expected to grow at more than 10%, affirming a positive outlook for the company.

Dear readers/followers,

I've taken a lot of flak for my coverage and specifically, my long-term bullish stance, not just for telcos in general, but Telefonica ( TEF ) perhaps above all. My investment into this Spanish telco has not, so far, yielded the best sort of alpha. And what, after all, are we here to Seek, if not Alpha? That is the name of the game.

So from that perspective, not the best investment - yet.

But that seems about to change, as I see It. Telefonica has seen meaningful overall improvements in its results for the past few months, and since one of my last articles which was almost exactly one year ago, in an article that you can find here. ...

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