Singapore Stock Market News

Starhub - NDR takeaways

StockFanatic
Publish date: Thu, 23 May 2013, 10:16 AM
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The investors we met during Starhub's post-1Q13 non-deal roadshow focused on its lower revenue guidance which also has a small impact on EBITDA. Also a topic of discussion was the regulator's directive to SingTel to cross-carry the BPL, which is a small positive for Starhub.

We maintain our forecast, DCFbased (WACC 7.8%) target price and Neutral rating on StarHub despite its recent de-rating, which was probably triggered by its revenue downgrade, as it lacks catalysts. M1 remains our top Singapore telco pick as it is a key beneficiary of rising take-up of tiered data plans.
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