As such, he raised his discounted cash flow (DCF) long-term growth assumption to 1% from 0.5%, and lifted StarHub’s target price to $1.35.
Maybank Securities has upgraded StarHub to “buy” from “hold”, saying Singapore’s telecom market is set for greater pricing discipline following Simba’s acquisition of M1.
“Factoring potential competitive rationalisation post-consolidation, we lift StarHub’s 2026/2027 mobile revenue growth by 5% to 7%. While the Simba-M1 mergedco may target higher-ARPU segments, initial constraints from high leverage and limited synergies suggest price discipline will dominate near-term dynamics,” wrote analyst Hussaini Saifee in a Sept 3 note.
