M1 (B2F.SG) +0.9% at almost 3-week high of $2.18 as 2Q10 results, expectations of company benefiting from Singapore’s upcoming high-speed national broadband network supportive, according to Dow Jones.

“We believe the current share price does not reflect fully the potential boost from the (network) to M1’s fixed-line broadband business, for which management has disclosed previously its target to achieve more than a 20% market share by 2015,” says Daiwa, which has Outperform call with $2.40 target.

2Q10 net profit +10.0% on-year at $40.8 million on higher service revenue, with market share steady at 26.2% vs 25.6% year earlier, 25.8% in 1Q10. Interim dividend of $0.063/share proposed vs $0.062/share year earlier. Immediate resistance at 52-week high of $2.20.