Australia's Tuas' subscriptions outpace predictions, Citi says

Tuas

25/03/2025 23:49

** Shares of telecom co Tuas TUA.AX slip 1.8% to A$6.155

** Citi says TUA accelerated ramp-up for broadband has exceeded expectations

** Both mobile and broadband subscriptions have surpassed Citi's forecasts, with TUA's mobile market share hovering around 12%

** "What is especially encouraging is margin coming in well ahead of expectations, demonstrating TUA's continued disciplined cost management" — brokerage

** Notes that the building blocks are in place for TUA to facilitate a market expansion

** Maintains "buy" rating at price target of A$7.10

** Stock down 3.5% YTD

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk))