Stock Name: StarHub
Company Name: STARHUB LTD
DBS Vickers Securities in an Aug 5 research report says: "Net profit stood at $78 million (+34% y-o-y, +13 q-o-q) versus our estimate of $75 million. StarHub reversed the decline in pay TV revenue in 2Q11 and stabilized its ARPU at $49.
"Broadband revenue continued to inch up as StarHub achieved success in acquiring lower-end subscribers while keeping the ARPU stable at $45. StarHub is expected to register a healthy earnings growth of 17% in 2011F due to lower content (EPL) and traffic costs.
"Potential slowdown in smartphone sales and resulting lower subsidies should drive earnings growth in 2012F. Starhub assured annual dividend per share of 20 cents. DCF-based target price of $3.05. MAINTAIN BUY."
Company Name: STARHUB LTD
| Research House: DBS Vickers | Price Call: BUY | Target Price: 3.05 |
DBS Vickers Securities in an Aug 5 research report says: "Net profit stood at $78 million (+34% y-o-y, +13 q-o-q) versus our estimate of $75 million. StarHub reversed the decline in pay TV revenue in 2Q11 and stabilized its ARPU at $49.
"Broadband revenue continued to inch up as StarHub achieved success in acquiring lower-end subscribers while keeping the ARPU stable at $45. StarHub is expected to register a healthy earnings growth of 17% in 2011F due to lower content (EPL) and traffic costs.
"Potential slowdown in smartphone sales and resulting lower subsidies should drive earnings growth in 2012F. Starhub assured annual dividend per share of 20 cents. DCF-based target price of $3.05. MAINTAIN BUY."
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