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Telcos upgraded as fallen share prices better reflect TPG threat

Stanislaus Jude Chan
Stanislaus Jude Chan9/25/2017 1:31 PM GMT+08  • 2 min read
Telcos upgraded as fallen share prices better reflect TPG threat
SINGAPORE (Sept 25): CIMB Research is upgrading its rating on the Singapore telco sector to “neutral”, from “underweight” previously, as the worst appears to be over – for now.
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SINGAPORE (Sept 25): CIMB Research is upgrading its rating on the Singapore telco sector to “neutral”, from “underweight” previously, as the worst appears to be over – for now.

M1, StarHub and SingTel have seen their share prices fall over the past 12 months by 26%, 24% and 7%, respectively.

“These stocks have significantly underperformed the Straits Times Index’s 13% rise over the same period,” says CIMB lead analyst Foong Choong Chen in a report on Sept 22.

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