Nicholas Kitonyi
Research analyst, growth, value, long/short equity

Cellcom: A Substantial Upside With Nearly All Risks Priced In

The cellular market in Israel is increasingly becoming everyone's business, as new entrants storm in. Over the last two years, there has been at least six new entrants in a market of roughly 10 million subscribers.

Industry veterans like Cellcom (NYSE:CEL), the market leader by subscribers and Partner (NASDAQ:PTNR) second largest, along with global heavyweights like Orange (NYSE:ORAN) have experienced performance shocks in the country as the new entrants came in guns blazing, with aggressive pricing for their products and services.

Nonetheless, I believe with time, this "promotional type" of pricing, just like any kind of a promotion will come to an end. And as reality dawns to the on rushing customers, it won't...

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