M1 kept at 'Add' with unchanged price target of $3.80 by CIMB

Stock Name: M1
Company Name: M1 LIMITED

Research House: CIMB

Price Call: BUY

Target Price: 3.80

SINGAPORE (Jan 20): CIMB is maintaining "Add" on M1 Limited with an unchanged target price of $3.80.

In a Jan 19 report, analyst Foong Choong Chen said M1 should benefit from the $2-3 price hike across postpaid plans, excess data usage revenues, and given its expansion into fixed services.

M1's 4QFY14 core net profit came in flat q-o-q as revenue growth was offset by seasonally-higher handset subsidies.

Mobile service revenue grew 2.7% q-o-q due to higher data usage and postpaid subscribers re-contracting into higher-priced plans that were launched in Sept 2014.