StarHub: Citi downgrades to Sell from hold, has $2.47 target. Says while 7% div yield attractive, sustainable, valuations not appealing. Notes stock trades at premium to M1, faces greater risk due to material exposure to fixed broadband market, which will be under threat from the next-generation national broadband network…
Adds, pay-TV business (17% of group revenue) also facing increased competition from SingTel, which has already secured 31% market share within 3 yrs of operation.
No comments:
Post a Comment