M1

Citigroup raises M1 target price to $2.50 from $1.65 after changing valuation methodology to discounted cashflow basis from P/E approach to reflect company's free cashflow profile. Cites opportunities to offer bundled services (beyond mobile telephony) arising from S’pore's high-speed national broadband network as potential catalyst for share price. Recent government ruling requiring cable-TV operators to share exclusive content also favorable for M1, which has yet to enter pay-TV market