Stock Name: M1
Company Name: M1 LIMITED
DMG & Partners Securities in a June 21 research report says: "M1 has launched Singapore's first commercial LTE network in selected parts of the republic. The coverage will be progressively expanded island-wide by 1Q2012.
"The telco is rolling out the service to enterprise customers first until more LTE enabled devices are available in the market. We are leaving our core net profit forecasts of $170.4 million and $187.5 million for FY2011 and FY2012 unchanged for now.
"While M1's first mover advantage in LTE is positive in terms of its branding campaign, we see little upside in the short to medium-term until adoption reaches critical mass, accompanying the maturity of the 4G eco-system over the next 2-3 years. Target price of $2.85. MAINTAIN BUY."
Company Name: M1 LIMITED
| Research House: DMG | Price Call: BUY | Target Price: 2.85 |
DMG & Partners Securities in a June 21 research report says: "M1 has launched Singapore's first commercial LTE network in selected parts of the republic. The coverage will be progressively expanded island-wide by 1Q2012.
"The telco is rolling out the service to enterprise customers first until more LTE enabled devices are available in the market. We are leaving our core net profit forecasts of $170.4 million and $187.5 million for FY2011 and FY2012 unchanged for now.
"While M1's first mover advantage in LTE is positive in terms of its branding campaign, we see little upside in the short to medium-term until adoption reaches critical mass, accompanying the maturity of the 4G eco-system over the next 2-3 years. Target price of $2.85. MAINTAIN BUY."
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