AirLink Communication Ltd ((AIRLINK): Innovation unplugged - By Foundation Research

<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">We initiate coverage on AirLink Communication Ltd. with an &lsquo;Outperform&rsquo; rating and a Dec&rsquo;25 TP of PKR 273.3/sh, implying a 67.8% upside. AIRLINK has established a strong position in the mobile manufacturing market through the local assembly of prominent brands including Xiaomi, Tecno, and Itel. The company has ambitious plans to expand its product portfolio further by venturing into the manufacturing of laptops, TV&rsquo;s and EV&rsquo;s.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Our positive outlook on AIRLINK is supported by (1) increasing broadband and smartphone penetration in Pakistan, (2) strategic expansion aided by a 10-year tax holiday, (3) rising market share of l...