While the S&P Merval alternates between correction sessions and bounces, a company that has historically fallen on the public board is starting to stand out for a piece of information that has sparked immediate interest, such as the potential return potential for the next 12 months. According to the latest report from Alaria on Cable Vision Holdings (CVH)the stock is now listed on $7450 After the recent rise, it remains very far from the target price set by the brokerage company. Which expects $15,300 by the end of 2026.
With this relationship between market price and target, The expected increase is up to 105%Which explains why it is once again among the favorites of City analysts.
This calculation arises from comparing the current value with the theoretical valuation based on the shareholding of Telecom Argentina (TECO2).
The difference between the two levels reveals significant distortion, as, The paper is trading at a discount of 57% from the theoretical priceIt is a gap higher than the historical average and which, for much of the city, has become an opportunity for investors willing to tolerate volatility.
A negative balance does not overwhelm it
The third quarter results showed a deep deterioration at the net level. The company recorded a loss of $80.5 billionmuch higher than $9.8 billion From the same period of the previous year. The main reason was the impact of financial losses associated with exchange differences, an item that contributed positively in 2024.
However, operational business performance was significantly stronger. Sales grew 59.4% year-on-year and exceeded initial expectations. The founding of Telefónica Móvil Argentina was fundamental in explaining this acceleration in the level of activity, as income linked to mobile phones increased 96% on an annual basiswhile landline telephone and Advanced Data 79%. Even after excluding the impact of the merger, the original company’s sales maintained a positive trajectory.
EBITDA accompanied this upward trend with an increase of 84% year over year, to $645.8 billion, bringing the margin to 31.3%. The combination of increased income, gradual adjustment of costs and increased operational efficiency left a more solid picture for the core business, although the net result was conditional on the financial front.
The impact of the purchase of Telefónica
Since March 2025, the company has been fully consolidated Telefonica Movil ArgentinaThis is a step that has redefined the scope of its operations.
The consolidated debt rose to $5.1 billion, despite the holding company maintaining a debt-free position at the individual levelThis is a fact that is crucial for analysts when evaluating.
The new structure promises higher margins, efficiency synergies and greater cash flow outlook, according to Alariais not yet reflected in current prices.
Why Cablevisión Stock Could Soar 105%, According to City
The core of the calculation comes from the evaluation of Telecom Argentina. Allaria expects a target price of $4,700 by 2026a number that indicates the use of capital letters near $10.1 billion. By applying for this amount 39% corresponds to the holding company’s participation, and the attributable value exceeds $3.95 billion.
Since the company has no net debt at the individual level, the research team adjusts this value to… 30% discount for illiquiditywhich is common in public team papers. The end result is the target price $15,300 per CVH share by 2026.
With the updated price of $7,450, the new expected total return is 105%It is a number that maintains the attractiveness of profiles aiming to seize valuation opportunities in undervalued assets.
Despite the recent recovery, The stock has had a negative 17% performance over the past 12 months. It also continues at the bottom of its annual range between… $4,095 and $8,250Which indicates that it has not yet been able to keep up with the broader market recovery.
This lag, far from being a negative signal, is one of the factors that support the bullish thesis: The stock has room to regain lost ground if operating variables continue to improve.
The hidden gem of the General Committee: Outlook towards 2031
The long-term estimates included in the report reinforce the positive outlook. Sales volume is expected to grow strongly from $4.1 trillion in 2024 to $15.5 trillion in 2031. EBITDA maintains an upward trajectory with margins exceeding 30% at the end of the period.
Free cash flow shows continued increases, reinforcing the vision of an increasingly efficient structure with greater cash generation capacity.
Allaria maintains its Buy recommendation He highlights that Cablevisión Holding (CVH) displays one of the largest spreads in the market. The paper combines lag, operational improvement, development of synergies and a significant discount with respect to its economic value.
If it can stabilize its financial front and accelerate the capture of benefits derived from the integration with TMA, the revaluation could become one of the most relevant movements within the public board during 2026.