RHB is also recommending a “buy” for Singtel shares at a target price of $3.30, but remains “neutral” on StarHub, with a target price of $1.63. RHB is overall “neutral” on the whole telco sector, as it has yet to see substantial benefits from the 5G licences awarded. It expects only “incremental contributions from 5G in 2021, on progressive network expansion and device adoption”, says RHB in its April 30 report.
SINGAPORE (Apr 30): Following the awarding of 5G licences to Singtel, StarHub, and M1 by the Infocomm Media Development Authority (IMDA) on April 29, analysts from DBS Group Research and OCBC Investment Research are recommending investors to “buy” shares from StarHub, Singtel, and NetLink NBN Trust respectively.
DBS has raised its target price on StarHub from $1.40 to $1.75; OCBC is keeping Singtel within its list of “preferred picks”, with a target price of $3.61.
