Australia's Tuas at record high; Citi raises PT on expanding user base

Tuas

08/12/2024 23:51

** Telecom co Tuas  TUA.AX  gains as much as 3.8% to record
high of A$6.310, tracking U.S. peers higher
    ** Citi raises PT to A$7.10 from A$5.55; maintains "buy"
    ** Sees continuing and potential additions to mobile and
broadband subscriber base to outpace market
    ** Raises FY25 EBITDA by 5%, driven by higher broadband
contribution and lower costs
    ** Reduces operating cost assumptions, increasing EBITDA
margin forecast
    ** Says TUA has captured 3%-4% of users coming off rivals'
lock-in contracts
    ** Stock up 90% this year, as of last close

 (Reporting by Nichiket Sunil in Bengaluru)
 ((Reuters.Briefs@thomsonreuters.com))