BUZZ-UBS sees improved returns from Aussie telcos in 2026; adjusts PT

Reuters

01/13

** UBS sees reduced capex intensity, improved capital return for Australian telecom operators in 2026

** Says mobile pricing, more efficient deployment of capital, cost outs remain key levers for industry ROIC (return on invested capital) recovery in 2026

** Expects cumulative A$2 billion ($1.34 billion) worth of further buybacks for Telstra TLS.AX in FY27-FY30

** Reiterates "Neutral" on TPG Telecom TPG.AX, TLS; adjusts PT as follows:

Stock	New PT	Old PT
TPG Telecom	A$3.80/sh	A$5.40/sh
Telstra	A$4.90/sh	A$4.80/sh

($1 = A$1.4908)

(Reporting by Jasmeen Ara Shaikh in Bengaluru)

((Jasmeenaraislam.Shaikh@thomsonreuters.com;))

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adjusts PT</title></head><body><p>** UBS sees reduced capex intensity, improved capital return for Australian telecom operators in 2026</p><p>** Says mobile pricing, more efficient deployment of capital, cost outs remain key levers for industry ROIC (return on invested capital) recovery in 2026</p><p>** Expects cumulative A$2 billion ($1.34 billion) worth of further buybacks for Telstra <span>TLS.AX</span> in FY27-FY30</p><p>** Reiterates \"Neutral\" on <a href=\"https://laohu8.com/S/TPGTF\">TPG Telecom</a> <span>TPG.AX</span>, TLS; adjusts PT as follows:    </p><table><tbody><tr><td><p>Stock</p></td><td><p>New PT</p></td><td><p>Old PT</p></td></tr><tr><td><p>TPG Telecom</p></td><td><p>A$3.80/sh</p></td><td><p>A$5.40/sh</p></td></tr><tr><td><p>Telstra </p></td><td><p>A$4.90/sh</p></td><td><p>A$4.80/sh</p></td></tr></tbody></table><p>($1 = A$1.4908)</p><p> (Reporting by Jasmeen Ara Shaikh in Bengaluru)</p><p> ((Jasmeenaraislam.Shaikh@thomsonreuters.com;))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TLS.AU","symbol_name":"TELSTRA GROUP LTD","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20260113:nL4N3YE09E:1","article_id":"2603571214","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2603571214","pubTimestamp":1768277063,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"BUZZ-UBS sees improved returns from Aussie telcos in 2026; 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