2327 GMT - Tuas's bull at Citi admits to confusion over the share-price drop that followed the telecommunications provider's first-half result. Analyst Siraj Ahmed can think of three potential reasons for the 7.5% fall, but none of them strike him as sufficient. He suggests: a potential sell-down of the Australia-listed stock from a major shareholder, slower 2Q subscriber growth, or deteriorating average-revenue-per-user in mobile. He is unconcerned, telling clients in a note that Tuas's market-share growth trajectory in both mobile and broadband is intact. Citi keeps a buy rating and A$7.10 target price on the stock, which is at A$5.80 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 26, 2025 18:27 ET (22:27 GMT)
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