Telecom Italia SpA
TIT: XMIL (ITA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€4.43 | Bcw | Jwyqn |
Telecom Italia's Brazil Business Performs Well, but Not Enough to Hide Poor Performance in Italy
Although Telecom Italia's results were just in line with consensus expectations, shares are up 5% at the time of the writing. Management has failed to meet its guidance several times in the past two years, so the in-line performance has probably surprised investors. We are maintaining our EUR 0.25 fair value estimate and highlight our Very High Morningstar Uncertainty Rating for the stock.