Telcos

Telcos: SingTel has beaten Starhub and M1 to the pricing release on the new iPhone, ranging from $318-$538 for iPhone 5c and $538-$818 for the iPhone 5s. The new iPhones will go on sale at all three telcos this Fri. A lacklustre iPhone launch would bode well for the telcos, not having to get its margins squeezed from giving out mobile subsidies and allowing them to continue on the positive take-up of data monetization. The street estimates 12-month TP for the telcos as follows: SingTel- TP of $3.97, return potential of 5.8% M1- TP of $3.36, return potential of -0.3% Starhub- TP of $4.19, return potential of -1.4%