SINGAPORE (Nov 9): 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.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook