Morgan Stanley optimistic on Australia's Superloop on FY24 guidance upgrade

Superloop

03/07/2024 05:29

** Morgan Stanley sees upsides to Superloop  SLC.AX 
upgrading FY24 EBITDA guidance to be at top end of A$51 mln-A$53
mln ($35.39 mln) range
    ** Brokerage maintains price target of A$1.65/shr and
"overweight" rating on stock
    ** Telecommunications co's stock down as much as 3.3% to
A$1.523
    ** Brokerage sees potential new contracts as well as
subscriber growth as upsides to SLC's earnings
    ** All five analysts covering the stock rate it "buy" or
higher; their median PT is A$1.73 - LSEG data
    ** Stock more than doubled YTD as of last close

($1 = 1.4975 Australian dollars)

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((shivangi.lahiri@thomsonreuters.com))