Maybank Kim Eng has reinitiated coverage of NetLink NBN Trust with a “buy” call and a target price of $1.08.


Analyst Kareen Chan says this is because NetLink’s business is less volatile than other yield plays such as certain REITs and telcos, amid risks of distribution per unit (DPU) cuts and competition. In addition, NetLink, being the sole nationwide provider of passive fibre network infrastructure in Singapore, is a domestic-yield play amid Covid-19 re-opening uncertainties.

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