Tuas Bull Cheered by Strong Subscriber Growth -- Market Talk

Dow Jones09-25

0130 GMT - Tuas's stronger-than-expected subscriber growth keeps its bull at Citi positive on the Australia-listed mobile provider, especially with postpaid growth outpacing prepaid. Analyst William Park tells clients in a note that imminent improvements in the Singapore-focused company's 5G coverage should help it continue to grow market share. Its tally of 4,000 broadband subscribers at the end of its 2024 fiscal year is also well ahead of Park's forecast of 1,200, with its pricing apparently attractive to customers. Citi raises its target price 5.7% to A$5.55 and keeps a buy rating on the stock, which is down 2.5% at A$4.69. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

September 24, 2024 21:30 ET (01:30 GMT)

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