Singapore telco StarHub has failed to report revenue growth on an annual basis for the last two years, and there isn’t much sign of a pickup this year, Nomura says in a note after the firm reported third quarter results.
The research house calls this its “overarching concern”, with risks on the horizon such as the entry of Netflix into the Singapore market -- StarHub offers pay TV in Singaporean and Netflix would be a competitor.
“Net-net, these results are OK and have various operational positives too, and dividends remain good. But this alone will likely not be a re-rating catalyst, we think,” Nomura says, maintaining its neutral rating and target price of $4.00 a share.
StarHub trades 0.3% lower at $3.66 as of Monday morning.
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The research house calls this its “overarching concern”, with risks on the horizon such as the entry of Netflix into the Singapore market -- StarHub offers pay TV in Singaporean and Netflix would be a competitor.
“Net-net, these results are OK and have various operational positives too, and dividends remain good. But this alone will likely not be a re-rating catalyst, we think,” Nomura says, maintaining its neutral rating and target price of $4.00 a share.
StarHub trades 0.3% lower at $3.66 as of Monday morning.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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