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DBS downgrades StarHub to ‘fully valued’; sees recovery only from FY2027

Nurdianah Md Nur
Nurdianah Md Nur • 2 min read
DBS downgrades StarHub to ‘fully valued’; sees recovery only from FY2027
Analyst Sachin Mittal has cut his target price to 94 cents, citing near-term earnings pressure but points to enterprise growth and consolidation-led recovery from FY2027. Photo: StarHub
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DBS Group Research has downgraded StarHub to “fully valued” with a lower target price of 94 cents, down from $1.19 previously.

Analyst Sachin Mittal forecasts ebitda to fall about 20% in FY2026, broadly in line with StarHub’s guidance for a 20% to 25% decline, as consumer revenue slips and enterprise-related operating costs rise.

He projects a roughly 2.5% drop in consumer revenue next year, with mobile service revenue down about 2% as premium customers continue migrating to lower-priced SIM-only plans.

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