Aussie Broadband slips; Jefferies cuts PT on firm losing subscribers

Superloop

15/03/2024 03:59

** Shares of telecommunications firm Aussie Broadband
 ABB.AX  fall as much as 3.7% to A$3.42
    ** Stock set for third consecutive day of losses
    ** Brokerage Jefferies notes Origin Energy's  ORG.AX 
current broadband customer base of 130,000 will migrate from ABB
to Superloop  SLC.AX  during FY25 after firm lost Origin
Energy's contract 
    ** Analysts lower price target on the telecom conglomerate
to A$3.75 from A$4.30; maintain "hold" rating 
    ** Jefferies lowers revenue estimates for FY25 and FY26 by
8% and 13%, respectively
    ** Five of eight analysts rate the stock "buy", two "hold"
and one "sell"; their median PT is A$4.89 – LSEG data
    ** Stock has dropped 9.2% this year, as of last close

 (Reporting by Megha Rani)
 ((Megha.Rani2@thomsonreuters.com;))