New Street Research

Company history

Iain Johnston, formerly global head of telecom research at J.P. Morgan, founded New Street Research in London in 2003 as a communications-services specialist. It added technology infrastructure coverage in 2018 when Pierre Ferragu joined from Bernstein, and David Barden joined from Bank of America in 2025 to lead North American telecom research. In May 2026 the firm launched a Space Economy and Infrastructure vertical.

1. 2003Founded in London by Iain Johnston
2. 2018Launches technology infrastructure coverage with Pierre Ferragu
3. 2025David Barden joins to lead North American telecom research
4. 2026Launches Space Economy and Infrastructure vertical

Research

Coverage spans communications services, technology infrastructure, the Asian technology supply chain, internet, software and AI, space, and policy and regulation, supported by a data analytics team. In 2017 it wrote research on more than 150 telecom-sector companies for more than 200 institutional clients. Its senior analysts include several formerly top-ranked in Institutional Investor surveys. Stocks are rated Buy, Neutral or Sell, with price targets.

Coverage12M

Stocks

112

Ratings

14

Price targets

119

Median upside

+16.6%

Upgrades

5

Downgrades

6

Initiations

0

Reiterations

3

Targets raised

18

Targets cut

10

Activity24M

Most covered24M

Stock	Rating	Target	Actions	Last action
BKThe Bank of New York Mellon Corporation	—	$87	6	Jul 10
BNYThe Bank of New York Mellon Corporation	—	$143	5	Jan 14
DQDaqo New Energy Corp.	—	$10	5	Aug 24
MUMicron Technology, Inc.	Buy	$1,250	4	Aug 14
ARMArm Holdings plc American Depositary Shares	Buy	$260	3	Jul 30
ASTSAST SpaceMobile, Inc.	—	$106	3	May 29
EDUNew Oriental Education & Technology Group Inc.	—	$56.50	3	Jul 30
NJRNew Jersey Resources Corporation	—	$68	3	Sep 14
FLUTFlutter Entertainment plc	—	$110	2	Sep 3
IRDMIridium Communications Inc.	Buy	$40	2	Jul 22

Analysts24M

• Brian BedellBK · BNY2
• David KonradBK · BNY2
• Vivek JunejaBK · BNY2
• Betsy GraseckBK · BNY2
• Pierre FerraguMU · SPCX2
• Jason GoldbergBK · BNY2

Recent actions

Stock	Rating action	Rating	Target	Date
CTCorteva, Inc.CTVA	Target		$95	Sep 16
NYThe New York Times CompanyNYT	Target		$31.50 →$82	Sep 15
New Jersey Resources CorporationNJR	Target		$54 →$68	Sep 14
Planet Labs PBCPL	Upgrade	Sell →Neutral		Sep 4
Flutter Entertainment plcFLUT	Target		$210 →$110	Sep 3
Okta, Inc.OKTA	Target		$200	Aug 27
Daqo New Energy Corp.DQ	Target		$18.13 →$10	Aug 24
TLTalen Energy CorporationTLN	Target		$405	Aug 24
TETEF	Downgrade	Reduce →Sell		Aug 21
SNSNNRF	Downgrade	Sell		Aug 21
SMSemtech CorporationSMTC	Target		$230	Aug 20
Autodesk, Inc.ADSK	Target		$277	Aug 20

Similar coverage12M

• Susquehanna27 shared
• Wolfe Research32 shared
• Argus Research21 shared
• Macquarie12 shared
• Rosenblatt Securities13 shared
• The Benchmark Company24 shared

References

1. New Street Researchnewstreetresearch.com
2. New Street Research LLP - Companies Housefind-and-update.company-information.service.gov.uk
3. Pierre Ferragu, #1 Ranked Technology Infrastructure Analyst, Joins New Street Researchprnewswire.com
4. David Barden Joins New Street Research as Partnerprnewswire.com
5. New Street Research Launches Space Economy and Infrastructure Coverageprnewswire.com
6. New Street Research submission to the New Zealand Commerce Commission (2017)comcom.govt.nz