Starhub: Deutsche maintains buy with TP of $2.62. Notes that stock has reached its 2 year highs and has outperformed the STI over last 3 mths, which is particularly interesting given stock widely viewed as a defensive, high yield and low beta play, which is not expected to outperform in the current increasingly optimistic environment.....
Despite recent run-up, still remains Deutsche’s top Telco pick, tipping it to benefit the most from the National broadband network as it increases accessibility to the enterprise market, backed by an attractive dividend yield of 7.7% FY11E.
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