Singapore telcos upgraded as fallen share prices better reflect TPG threat

Singapore telcos upgraded as fallen share prices better reflect TPG threat
-A +A

SINGAPORE (Sept 25): CIMB Research is upgrading its rating on the Singapore telco sector to “neutral”, from “underweight” previously, as the worst appears to be over – for now.

M1, StarHub and SingTel have seen their share prices fall over the past 12 months by 26%, 24% and 7%, respectively.

“These stocks have significantly underperformed the Straits Times Index’s 13% rise over the same period,” says CIMB lead analyst Foong Choong Chen in a report on Sept 22... (Click here to read the full story.)