Telefonica SA ADR
TEF: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$2.00 | Cqm | Hdxdkrpt |
Telefonica Earnings: Progressing Steadily Through the Year; Holds Talks to Sell Colombia Business
No-moat Telefonica’s second quarter was stable across the board with revenue growth of 1.2% and EBITDA growth of 1.8%, reaching EUR 10.26 billion and EUR 3.22 billion, respectively. Timid revenue growth together with slight cost reductions are placing Telefonica on track to reach its yearly target of 1%-2% growth in EBITDA, which stood at 1.9% in the first half of the year. We maintain our EUR 4.70 fair value estimate.