Switch to Telekom. We are downgrading our call on DiGi.Com to a Hold
following a very successful Buy call in October. Since then, the stock
has surged by some 16% and outperformed the KLCI by 15%. Given a lack of
further catalysts other than the stock split that occurred
post-upgrade, and the fact that recent results by all the telcos suggest
the Malaysia telco market is now in the grind phase as they combat
declining voice revenue and slowing data growth, we would prefer to take
the money first. Switch to Telekom Malaysia. Our EV-based TP of RM3.46
is maintained.
Maybank research (2 December 2011)
Click here for full report
No comments:
Post a Comment