Tuas's 1Q Margin Beat Keeps MS Bullish on Stock -- Market Talk

Dow Jones
2024/12/09

0313 GMT - Morgan Stanley analysts stay bullish on Tuas after the Singaporean mobile-network operator beat their first-quarter margin expectations. They tell clients in a note that the Australia-listed company's 46% first-quarter Ebitda margin implies annualized earnings of S$64.4 million. They had forecast a full-year margin of 40.3%, lifting it to 43.3% following the trading update. Tuas still has a long growth runway as it expands into new product and customer segments, they add. MS stays overweight on the stock and lifts its target price by 22% to A$6.70. Shares are up 7.1% at A$6.51. (stuart.condie@wsj.com)

 

(END) Dow Jones Newswires

December 08, 2024 22:13 ET (03:13 GMT)

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