StarHub - Starhub target raised to $2.41 by Phillip Securities

Stock Name: StarHub
Company Name: STARHUB LTD
Research House: Phillip Securities

Phillip Securities lifts Starhub (CC3.SG) target price to $2.41 from $2.16 after increasing earnings estimates for FY10-12 by 5.1%, 32.3%, 41.9% respectively to account for higher broadband revenue following launch of Singapore’s next-generation national broadband network, says Dow Jones.



“With NGNBN, it can reach out to all businesses and homes in Singapore. This would place it on an equal footing to compete with SingTel, which is the current leader in the broadband market”, says Phillip. Still, research house is keeping Hold call on view Starhub will continue to face stiff competition from SingTel (Z74.SG), M1 (B2F.SG); “we also believe that SingTel and M1’s NGNBN plans are at least as attractive as Starhub’s.”



Shares off 0.8% at $2.50.