Singtel: 4QFY15 numbers came in line with CLSA and consensus forecasts. Importantly, the outlook statement for FY16 points to healthy mid-single-digit revenue and low-single-digit Ebitda growth, which is within expectations.
While nothing in this set of results is incrementally bullish, house believes Singtel is the best placed among the three telcos and continues to be its top pick in the sector.
CLSA maintains OUTPERFORM and revised TP upwards to $4.57 (from $4.55).
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