SINGAPORE (Mar 15): OCBC Investment Research is maintaining “neutral” on Singapore’s telco sector in the wake of the 4QCY18 reporting season, which saw StarHub and M1 results come in within expectations, while that of Singtel’s was slightly under.
Nonetheless, the research house continues to favour Singtel and NetLink NBN Trust with a “buy” rating for both and the respective fair value estimates of $3.79 and $90 cents.
In a Friday report, analyst Joseph Ng says the latest financial reporting quarter’s “big surprise” came from StarHub’s deep DPS cut from 16 cents in FY19 to potentially 9 cents in FY19, which is significantly lower than his expectations of 12 cents in FY19.
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