Aussie Broadband slips; E&P Capital initiates coverage with 'positive'

Aussie Broadband

08/12/2023 02:24

** Shares of Aussie Broadband  ABB.AX  fall as much as 1.3%
to A$3.69
    ** Analysts at E&P Capital initiate coverage on ABB with a
price target of A$4.50; rates stock 'Positive'
    ** Brokerage says positive view is underpinned by ABB's
continued gain in the National Broadbank Network's (NBN) market
share
    ** Adds subscriber growth is driven by superior customer
service to peers and the absence of legacy operations
    ** Acquisition of Symbio, expected to complete in February
2024, further diversifies ABB's earnings profile - E&P
    ** Stock has risen 43.3% this year, as of last close 

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))