Superloop (ASX:SLC) broadband subscriber growth has exceeded expectations, with the company surpassing 200,000 subscribers on its network, driven primarily by organic growth, according to a Wednesday note by Jarden Research.
On Thursday, the company said it had gained broadband subscribers on its network as of Tuesday under an agreement to provide wholesale internet services to Origin Energy (ASX:ORG) and its units.
With Origin on track to reach 210,000 subscribers, Jarden believes the company is set to drive significant earnings before interest, taxes, depreciation, and amortization growth in the second half of the fiscal year.
Jarden also expects the company to pursue mergers and acquisitions that are value-accretive, potentially creating further upside to forecasts.
The firm maintained Superloop's overweight rating and its AU$2.60 price target.
Shares of the company rose 3% at market close.
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