M1 downgraded to "hold" by DBS Vickers; $4.05 target intact

Stock Name: M1
Company Name: M1 LIMITED

Research House: DBS Vickers

Price Call: HOLD

Target Price: 4.05

SINGAPORE (April 14): DBS Vickers has downgraded M1 to "hold" from "buy", citing limited upside to its $4.05 price target.

The company's 1Q2015 earnings of $45.7 million (up 6.8% y-o-y) were in line with expectations, but its share price is likely to trade in a tight band until there is clarity on whether Singapore will have a fourth mobile operator, according to DBS Vickers analyst Sachin Mittal.