Coverage

Company	Rating	Target	Analyst
1&1 1U1:GR	Buy	EUR €30	Ben Rickett
Advanced Info Services ADVANC:TB	Buy	THB ฿285	Chris Hoare
Advanced Micro Devices AMD:US	Neutral	USD $84	Pierre Ferragu
Adyen ADYEN:NA	Buy	EUR €1600	Soomit Datta
Aeva AEVA:US	Buy	USD $2.7	Pierre Ferragu
Airtel Africa AAF:LN	Buy	GBP £3.1	Chris Hoare
Alibaba Group BABA:US	Buy	USD $150	Jin Yoon
Alphabet GOOGL:US	Buy	USD $135	Dan Salmon
Altice USA ATUS:US	Neutral	USD $4	Jonathan Chaplin
Amazon AMZN:US	Buy	USD $123	Dan Salmon
America Movil AMX:US	Buy	USD $27	Soomit Datta
American Tower AMT:US	Neutral	USD $215	Jonathan Chaplin
Apple AAPL:US	Neutral	USD $170	Pierre Ferragu
Applied Materials AMAT:US	Buy	USD $130	Pierre Ferragu
Arista Networks ANET:US	Buy	USD $185	Pierre Ferragu
ASML ASML:NA	Buy	EUR €770	Pierre Ferragu
AT&T T:US	Neutral	USD $18	Jonathan Chaplin
Axiata AXIATA:MK	Buy	MYR RM5.7	Chris Hoare
Baidu BIDU:US	Buy	USD $200	Jin Yoon
Besi BESI:NA	Buy	EUR €90	Pierre Ferragu
Bharti Airtel BHARTI:IN	Buy	INR ₹1400	Chris Hoare
Bilibili Inc BILI:US	Buy	USD $40	Jin Yoon
Broadcom AVGO:US	Buy	USD $700	Pierre Ferragu
BT Group BT/A:LN	Buy	GBP £1.85	James Ratzer
CelcomDigi 6947:MK	Buy	MYR RM6	Chris Hoare
Cellnex CLNX:SM	Neutral	EUR €31	James Ratzer
Charter CHTR:US	Buy	USD $560	Jonathan Chaplin
China Mobile 941:HK	Buy	HKD $115	Chris Hoare
China Telecom 728:HK	Buy	HKD $8.8	Chris Hoare
China Tower 788:HK	Buy	HKD $1.7	Chris Hoare
China Unicom 762:HK	Buy	HKD $13.2	Chris Hoare
Cisco CSCO:US	Buy	USD $60	Pierre Ferragu
Comcast CMCSA:US	Buy	USD $48	Jonathan Chaplin
Coupang Inc CPNG:US	Buy	USD $25	Jin Yoon
Crown Castle CCI:US	Neutral	USD $123	Jonathan Chaplin
Dada Nexus Ltd DADA:US	Buy	USD $15	Jin Yoon
Deutsche Telekom DTE:GR	Buy	EUR €31	James Ratzer
Digital Realty Trust DLR:US	Neutral	USD $155	Jonathan Chaplin
DISH Network DISH:US	Buy	USD $28	Jonathan Chaplin
dLocal DLO:US	Neutral	USD $17	Soomit Datta
Elisa ELISA:FH	Neutral	EUR €56	Russell Waller
Entel Chile ENTEL:CI	Buy	CLP $4000	Soomit Datta
Equinix EQIX:US	Buy	USD $850	Jonathan Chaplin
Ericsson ERICB:SS	Neutral	SEK kr60	Pierre Ferragu
Frontier FYBR:US	Buy	USD $48	Jonathan Chaplin
Getnet S.A. GET:US	Neutral	USD $1.8	Soomit Datta
Goto Gojek Tokopedia PT GOTO:IJ	Neutral	IDR Rp115	Jin Yoon
Grab GRAB:US	Buy	USD $5.5	Pierre Ferragu
IHS Towers IHS:US:US	Buy	USD $20	Chris Hoare
Indosat ISAT:IJ	Buy	IDR Rp11000	Chris Hoare
Indus Towers INDUSTOW:IN	Buy	INR ₹265	Chris Hoare
Infineon IFX:GR	Buy	EUR €50	Pierre Ferragu
Intel INTC:US	Buy	USD $42	Pierre Ferragu
Inter & Co INTR:US	Neutral	USD $4.3	Soomit Datta
Inwit INW:IM	Buy	EUR €12.2	Ben Rickett
iQIYI IQ:US	Buy	USD $10	Jin Yoon
JD.com JD:US	Buy	USD $70	Jin Yoon
KDDI 9433:JP	Buy	JPY ¥6500	Chris Hoare
KE Holdings Inc BEKE:US	Buy	USD $22	Jin Yoon
KPN KPN:NA	Buy	EUR €3.8	Russell Waller
KT Corp 030200:KS	Buy	KRW ₩70000	Chris Hoare
Kuaishou 1024:HK	Buy	HKD $95	Jin Yoon
LG Uplus 32640:KS	Buy	KRW ₩25000	Chris Hoare
Liberty Global LBTYA:US	Buy	USD $30	James Ratzer
LiLAC LILA:US	Buy	USD $15	Soomit Datta
Match Group MTCH:US	Buy	USD $57	Dan Salmon
Maxis MAXIS:MK	Buy	MYR RM5.6	Chris Hoare
Megacable MEGACPO:MM	Buy	MXN $75	Soomit Datta
Meituan 3690:HK	Buy	HKD $250	Jin Yoon
MercadoLibre MELI:US	Neutral	USD $1400	Soomit Datta
Meta Platforms META:US	Neutral	USD $245	Dan Salmon
Micron MU:US	Buy	USD $100	Pierre Ferragu
Millicom TIGO:US	Buy	USD $22	Soomit Datta
Mitratel (PT Dayamitra Telekomunikasi) MTEL:IJ	Buy	IDR Rp1135	Chris Hoare
Mobileye MBLY:US	Buy	USD $42	Pierre Ferragu
MTN MTN:SJ	Buy	ZAR R250	Chris Hoare
NetEase Inc. NTES:US	Buy	USD $95	Jin Yoon
Netflix NFLX:US	Neutral	USD $346	Dan Salmon
New Oriental EDU:US	Neutral	USD $27	Jin Yoon
Nexi NEXI:IM	Neutral	EUR €11.5	Soomit Datta
Nokia NOKIA:FH	Neutral	EUR €4.4	Pierre Ferragu
NOS NOS:PL	Neutral	EUR €4.8	Russell Waller
NTT 9432:JP	Buy	JPY ¥6000	Chris Hoare
Nubank NU:US	Buy	USD $6.8	Soomit Datta
Nvidia NVDA:US	Buy	USD $430	Pierre Ferragu
Oi OIBR3:BZ	Neutral	BRL $	Soomit Datta
Opsimex SITES1A-1:MM	Neutral	MXN $17	Soomit Datta
Orange ORA:FP	Buy	EUR €14	Russell Waller
Orange Belgium OBEL:BB	Neutral	EUR €19	Russell Waller
OTE HTO:GA	Neutral	EUR €22	Russell Waller
PagSeguro PAGS:US	Buy	USD $17	Soomit Datta
Palo Alto Networks PANW:US	Buy	USD $260	Pierre Ferragu
Pinduoduo PDD:US	Buy	USD $100	Jin Yoon
Proximus PROX:BB	Neutral	EUR €10	Russell Waller
Rakuten 4755:JP	Sell	JPY ¥440	Chris Hoare
Reliance Industries Ltd RIL:IN	Buy	INR ₹3270	Chris Hoare
Safaricom SAFCOM:KN	Neutral	KES KSh37	Chris Hoare
Sarana Menara (Protelindo) TOWR:IJ	Buy	IDR Rp1900	Chris Hoare
SBA Communications SBAC:US	Neutral	USD $244	Jonathan Chaplin
Sea Ltd SE:US	Buy	USD $100	Jin Yoon
Singtel ST:SP	Buy	SGD $4.4	Chris Hoare
Sitios Latinoamerica LASITE:MM	Neutral	MXN $6.6	Soomit Datta
SK Telecom 17670:KS	Buy	KRW ₩116000	Chris Hoare
Snap SNAP:US	Buy	USD $13	Dan Salmon
SoftBank 9984:JP	Buy	JPY ¥7200	Pierre Ferragu
Softbank KK (Corp) 9434:JP	Buy	JPY ¥2200	Chris Hoare
Soitec SOI:FP	Buy	EUR €175	Pierre Ferragu
StoneCo STNE:US	Neutral	USD $14	Soomit Datta
Swisscom SCMN:SW	Neutral	CHF ₣650	Russell Waller
T-Mobile USA TMUS:US	Buy	USD $178	Jonathan Chaplin
Tele2 TEL2A:SS	Neutral	SEK kr131	Russell Waller
Telecom Italia TIT:IM	Neutral	EUR €0.15	James Ratzer
Telefonica TEF:SM	Buy	EUR €4.7	James Ratzer
Telefonica Brasil VIVT3:BZ	Buy	BRL $55	Soomit Datta
Telefonica Deutschland O2D:GR	Sell	EUR €2.2	James Ratzer
Telenet TNET:BB	Neutral	EUR €22	James Ratzer
Telenor TEL:NO	Buy	NOK kr150	Russell Waller
Televisa TV:US	Buy	USD $8.5	Soomit Datta
Telia TELIA:SS	Neutral	SEK kr39	Russell Waller
Telkom Indonesia TLKM:IJ	Buy	IDR Rp6000	Chris Hoare
Temple & Webster Group Ltd TPW:AU	Neutral	AUD $4	Jin Yoon
Tencent Holdings 700:HK	Buy	HKD $450	Jin Yoon
Tencent Music Entertainment Group TME:US	Buy	USD $11	Jin Yoon
Tesla TSLA:US	Buy	USD $300	Pierre Ferragu
The Trade Desk TTD:US	Neutral	USD $57	Dan Salmon
TIM Participacoes TIMS3:BZ	Neutral	BRL $17	Soomit Datta
Tower Bersama TBIG:IJ	Buy	IDR Rp2200	Chris Hoare
Trip.com TCOM:US	Buy	USD $45	Jin Yoon
True Corporation TRUE:TB	Buy	THB ฿9.2	Chris Hoare
TSMC 2330:TT	Buy	TWD $580	Pierre Ferragu
Uber UBER:US	Buy	USD $59	Pierre Ferragu
United Internet UTDI:GR	Buy	EUR €33	Ben Rickett
Verizon Communications VZ:US	Neutral	USD $41	Jonathan Chaplin
Vipshop VIPS:US	Neutral	USD $14	Jin Yoon
Vodacom VOD:SJ	Neutral	ZAR R150	Chris Hoare
Vodafone VOD:LN	Buy	GBP £1.40	James Ratzer
Vodafone Idea IDEA:IN	Sell	INR ₹5	Chris Hoare
Weibo Corp WB:US	Buy	USD $25	Jin Yoon
Wise WISE:LN	Neutral	GBP £6	Soomit Datta
Wolfspeed WOLF:US	Buy	USD $80	Pierre Ferragu
Worldline WLN:AV	Buy	EUR €63	Soomit Datta
XL Axiata EXCL:IJ	Buy	IDR Rp5000	Chris Hoare
Z Holdings 4689:JP	Buy	JPY ¥585	Chris Hoare