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StarHub fails to leave analysts star-struck after a dismal 1Q

Michelle Zhu
Michelle Zhu5/4/2018 12:38 PM GMT+08  • 4 min read
StarHub fails to leave analysts star-struck after a dismal 1Q
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SINGAPORE (May 4): Maybank Kim Eng and OCBC Investment Research UOB Kay Hian are maintaining their “hold” calls on StarHub with an unchanged price target and fair value estimate of $2.27 and $2.20, respectively, while UOB Kay Hian is reiterating its “sell” call on the stock with a target price of $2.25.

This comes after the group on Thursday reported its first set of results under the new SFRS 15 accounting standard, with 1Q18 earnings indicating continued competitive pressure on the wireless and pay TV businesses although this came largely in line with expectations.

The research houses are however maintaining their cautious views on the stock due to headwinds from ongoing competition, as well as expectations of increasing competition ahead in spite of the group’s recently-announced partnership with upcoming MNVO provider MyRepublic.

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