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Industries – Telecommunications: First
It’s three straight years on top for Singapore-based Sachin Gupta and his squad of nine at Nomura.
It’s three straight years on top for Singapore-basedSachin Guptaand his squad of nine at Nomura. The analysts — working out of offices in Australia, Hong Kong, India, South Korea and Thailand — publish research on 36 companies and win praise for their “detailed modeling and comprehensive knowledge about the industry’s technology and trends,” as one money manager puts it. Gupta, 37, says his crew is relatively cautious on the sector, given current valuations, capital expenditure risks and subdued earnings outlooks, among other considerations. In the past year, for instance, more than a dozen telecommunications companies have raised their capex spending in an effort to chase data growth, he notes. However, they “definitely have the potential to tilt the scale back in their favor — on earnings especially — but they need to reconfigure various aspects, such as exploiting networks better, or branding or customer analytics,” Gupta contends. “Not an easy battle ahead.” Among the stocks the team is recommending — based on a mix of network advantages, earnings growth and diversity, prospects for improved return on invested capital and reasonable valuations — are Singapore Telecommunications and Thailand’s Advanced Info Service. —Carolyn Koo |
