M1

M1: +0.9% at $2.26, outperforms vs peers with SingTel flat at $3.07, StarHub -0.4% at $2.61.
Interest in M1 likely due to expectations for good 3Q earnings, due after market close, also on belief Spore's smallest telco has most to gain from rollout of Next Generation National Broadband Network (NGNBN)…

CIMB rates M1 as top pick, with Outperform call. Raises target to $2.70 from $2.60, tips core net profit of $42-43m, +3-6% qoq, +24-27% yoy. Says growth to come from rising data usage from growing smartphone usage, better roaming revenue from soaring inbound visitors, higher voice usage and growth in wireless broadband.
Keeps Underperform on StarHub, SingTel, with $2.24, $3.09 targets respectively.