{"id":321832,"date":"2023-02-24T13:19:50","date_gmt":"2023-02-24T05:19:50","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=321832"},"modified":"2023-02-24T13:19:52","modified_gmt":"2023-02-24T05:19:52","slug":"elon-musk-starlink-cnvrg-tbgi","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/elon-musk-starlink-cnvrg-tbgi\/","title":{"rendered":"Starlink in the Philippines positive for CNVRG and TBGI but still&#8230;"},"content":{"rendered":"\n<p>Elon Musk\u2019s Space Exploration Technologies Corp. (SpaceX) announced on Wednesday that its satellite internet unit will now be serving the Philippines.<\/p>\n\n\n\n<div style=\"height:26px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Analysis and Recommendation<\/h2>\n\n\n\n<p>The arrival of Starlink was initially one of the expected catalysts for CNVRG and another telco company, TBGI. However, we note that exposures of CNVRG and TBGI are limited to contracted services only &#8211; fiber and earth station lease agreement for CNVRG and 3-year MSA for TBGI (providing collocation facilities and first level support). <\/p>\n\n\n\n<p>For CNVRG, boost to revenues is likely to be limited while for TBGI, it could give a significant bump since as of the first 9 months of 2022, CNVRG and TBGI earned P24 Billion and P27 Million, respectively.<\/p>\n\n\n\n<p>Nevertheless, it remains positive for CNVRG as this provides the company with a new source of cash flows outside the residential broadband space in which growth has evidently slowed down after peaking last year. <\/p>\n\n\n\n<p>We currently have a BUY-rating on CNVRG with a Target Price of P35.00\/share. Meanwhile, for TBGI, we would investors to trade this with caution given its liquidity issue.<\/p>\n\n\n\n<div style=\"height:26px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p style=\"font-size:16px\"><em><em>This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about <a href=\"https:\/\/www.pinoyinvestor.com\/smartinvestor\/our-partner-brokers\/\">our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Here\u2019s a commentary on an important issue or event affecting the stock market<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-321832","post","type-post","status-publish","format-standard","hentry","category-special-reports","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/321832","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=321832"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/321832\/revisions"}],"predecessor-version":[{"id":321834,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/321832\/revisions\/321834"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=321832"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=321832"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=321832"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}