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| BUY | 74.780 | Don Reed | Interesting company because most of their business is done outside of Spain. Dominant in fixed line and wireless in Spain but have 115 million subscribers on the wireless side outside of Spain and 25 million inside of Spain. | 2008-08-28 | |
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| BUY | 75.320 | David Driscoll | Si! Buy | 2008-08-11 | |
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| WAIT | 76.010 | Drummond Brodeur | Credit downturns are hitting certain markets a lot harder than others. Spain has had a tremendous run on the real estate boom and is now seeing the bust on the downside. Have also had some poor numbers. Thinks there will be earnings pressure coming onto it. Wait to see what the earnings look like next week. Cheap. | 2008-07-24 | |
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| DON'T BUY | 82.160 | David Burrows | Wireless is a space he had invested in heavily in the past. A number of months ago, he exited this sector. There is still very good growth and predictable cash flows but earnings multiples have been compressed because of concerns about margins. Ultimately, this will be a space to go back to. | 2008-07-11 | |
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| TOP PICK | 82.500 | David Driscoll | More money is going into telecom right now and this is the largest Spanish telecom but they've also got wireless throughout Brazil and Latin America. 25% increase in dividend in the last year. | 2008-07-04 | |
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| TOP PICK | 85.430 | David Driscoll | Spanish telecom, also have assets in Latin America. Wants to get its dividend up to 2 euros in the next 5 years, which would imply a yield of 5-6%. | 2008-03-17 | |
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| TOP PICK | 103.110 | David Burrows | Global wireless communications is another space that has held up remarkably well. This company dominates the phone business in Spain but is also greatly focused in Latin America. Predictable earnings. Not economically sensitive. | 2007-12-04 | |
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| BUY | 64.950 | David Driscoll | Likes what is going on with wireless assets. Latin America side of their business is growing by leaps and bounds. Dividend growth. | 2007-06-22 | |
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| BUY | 67.380 | Gavin Graham | If there is a sell off in emerging markets this will get wacked more then others, but this is still not a bad place to be. | 2007-05-22 | |
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| BUY | 63.410 | Charles Lannon | Spanish telephone/wireless company. Good Latin America and South America exposure. The premier global telco. | 2007-03-01 | |
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| BUY | 65.490 | Charles Lannon | One of the few stocks in the world that the dividend growth is so visible. Broadband penetration in the Spanish market is only around 28%. Its Latin American market is only 10%. Have incurred tremendous costs to get these networks out and are now sitting back and enjoying the cash flows. Company's commitment is to double the dividend by 2010. | 2007-01-09 | |
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| TOP PICK | 60.900 | Charles Lannon | The incumbent Telco in Spain and also has assets in South America. In 2005, the Company undertook a transformative acquisition by acquiring 2 companies and financed them by debt. They are now paying down the debt. The dividend is going up. Current yield is 4%. | 2006-11-17 | |
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| PAST TOP PICK | 58.950 | David Driscoll | (A Top Pick Aug 17/06. Up 15.8% plus 4% yield.) Good growth in wireless in Europe and Latin America. Still a buy. Plan to cut their debt in half and increase the dividend twofold over the next 5 years. | 2006-11-09 | |
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| TOP PICK | 50.950 | David Driscoll | Spanish telecom. Yield of about 4%. Have been growing in emerging markets. Free cash flow is greater than their need for capital expenditures. Trading at 5 X cash flow, which is cheap compared to other telecoms. | 2006-08-17 | |
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| TOP PICK | 47.950 | David Driscoll | Probably has the best organic growth of all the global telecom, simply because of the Latin American growth. Landline business is growing at about 8% and the cellular business is growing as well. 4% dividend. | 2006-05-25 | |
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| BUY | 54.870 | David Driscoll | Yield is just over 2.5%. Located in Spain, but biggest growth is from wireless in Latin America. Still has a long way up that it can go. | 2004-12-08 | |
Experts that have talked about Telefonica S.A.
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