Morgan Stanley raises PT on Australia's Tuas as it favours co's price model

Tuas

25/09/2024 05:14

** Analysts at Morgan Stanley raise price target for Tuas
 TUA.AX  to A$5.50/shr from A$4.30/shr; maintain "overweight"
rating
    ** However, shares of the Australia-based wireless telecom
services operator slipped as much as 3.7% to A$4.630 during
trade
    ** TUA on Tuesday reported a narrowed loss of S$4.4
mln($3.43 mln) for FY24, compared to previous year's loss of
S$15.3 mln
    ** Brokerage of the view that co is well positioned to
continue disrupting Singapore telco market with its tight cost,
low price model
    ** Morgan Stanley conservatively forecasts that broadband
will be slightly loss making in FY25 on start-up costs
    ** Both analysts covering the stock rate it "buy" or higher;
their median PT is A$5.05 - LSEG data
    ** Stock up 50.3% YTD, as of last close

($1 = 1.2825 Singapore dollars)

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