Growth in fibre offsetting fall in copper connections for Chorus - Macquarie

Chorus

12/04/2023 02:30

** Macquarie says third quarter connections data from Chorus
Ltd  CNU.NZ  continues recent trend, with growth in fibre
roughly offsetting fall in copper connections
    ** Telecommunications co on Tuesday said third quarter fibre
connections increased to 1 mln, while copper broadband and voice
connections declined by 21k
    ** Brokerage maintains 'Neutral' rating and a price target
of NZ$8.43
    ** Says extreme weather events added further challenges and
resulted in some ongoing disconnections in areas where homes
were damaged
    ** Three of four analysts rate the stock equivalent of
"hold" and one "sell"; median PT is NZ$7.58 – Refinitiv data
    ** Stock has risen 3.8% this year

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))