Jefferies cuts PT for Australia's TPG Telecom as outlook dims
BUZZ-Jefferies cuts PT for Australia's TPG Telecom as outlook dims ** Analysts at Jefferies lower the price target for Australia's TPG Telecom TPG.AX to A$3.90 from A$4.10, keep 'hold' rating
** Lower EPS estimates for FY26 by 9.7% and by 4.4% for FY27 due to higher tax expense and lower add-back of customer base amortisation - Jefferies
** Brokerage says TPG appears to be benefiting from customer spin-down, evident in its strong growth in digital-first brands and mobile virtual network operators
** Adds improvements in postpaid, which is much more profitable and the National Broadband Network segment to be more constructive on the stock
** Jefferies forecasts incremental EBITDA of A$152 million ($109.12 million) from FY25 to FY30 for TPG
** As of last close, TPG down 2.4% YTD
($1 = 1.3930 Australian dollars)
(Reporting by Keshav Singh Chundawat in Bengaluru)
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Jefferies cuts PT for Australia's TPG Telecom as outlook dims