SINGAPORE (Oct 20): OCBC is reiterating its “buy” view on M1 and fair value estimate of $3.66 after the No. 3 telco operator in Singapore reports results that are in line with expectations.

OCBC notes that M1’s net profit rose 0.8% on-year the third-quarter and revenue was up 11%.

OCBC says M1 offers an attractive 6.4% yield after its shares fell recently due to the spectre of rising interest rates and the possible emergence of a fourth operator in Singapore.

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