Singapore Stock Market News

StarHub - Green Is The New Gold

StockFanatic
Publish date: Wed, 21 Aug 2013, 01:47 PM
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Upgrade to BUY. We think margin guidance is too conservative and StarHub can do better, especially if iPhone 5S disappoints. Also, now that BPL cross-carriage is sorted out, we think Pay TV subscriber losses will reverse as early as 3Q13. We also like the new CEO's enterprise-oriented strategy to drive future growth and margins.

The stock is now a BUY with a street-high TP of SGD5.13. Our DCF-based TP has been raised following 3-7% upward revisions to FY13-15 forecasts and a higher terminal growth rate.
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