Telecoms: Incumbents to feel competitive heat; downgrade to negative*
- MKE is downgrading the telecoms sector to Negative from Neutral in light of heightened competitive risk on the likely entry of a fourth telco.
- M1 – Most at risk, downgraded to Sell from Hold with TP of $2.04 from $2.94
- StarHub – Enterprise to hold the fort, downgraded to Hold from Buy with TP of $3.52 from $4.15
- Singtel – Least affected, although trouble is brewing in India, reiterate Hold but with lower TP of $3.70 from $4.41
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