Uniti Group Inc

UNIT: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$2.00	Vpcyw	Pgqnctpy

Uniti Earnings: Underwhelming Results Don't Change Our Long-Term View

Matthew Dolgin

Aug 3, 2023

Uniti missed FactSet consensus revenue and EBITDA estimates and said activity from some of its customers has slowed. The stock sold off 10% in response, but we think that’s an overreaction to surface-level optics. We are not changing our forecast or $12 fair value estimate. We think the biggest reason for the undervaluation is fear about the firm’s debt level and corporate structure, but we don’t expect Uniti to face financial pressures that force it to make unattractive decisions.

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