Citi sees upside for Superloop subscriber growth, keeps buy on Telstra

Aussie Broadband

11/10/2026 19:35

** Citi says September was a stronger month for Australia's telecom operators, with flagship brands Telstra TLS.AX and Optus recording higher web traffic and app downloads from the previous month, potentially helped by the latest iPhone launch
** Broker says app download and traffic data point to upside risks for subscriber growth forecasts at Superloop SLC.AX and Aussie Broadband ABB.AX, though it remains neutral on Aussie Broadband
** Citi says recent weakness in Superloop shares presents a buying opportunity ahead of the company's AGM trading update
** Broker reiterates its buy rating on Telstra, saying concerns around SpaceX's spectrum purchase highlight the strategic value of terrestrial spectrum holdings
** Adds market underappreciates potential upside to Telstra's FY27 EBITDA guidance
** YTD TLS and SLC down 2.1% and 27% respectively, while ABB sheds 17.7%

 (Reporting by Roshan Thomas in Bengaluru; Editing by Susan Fenton)
 ((Roshan.Thomas@thomsonreuters.com;))