Brokers' take

M1 > Buy UOB Kay Hian, Aug 18 Aug 18 close: S$1.805 Target price: S$1.98

M1 has to contend with higher handset subsidies caused by the launch of iPhone 8 and 8 Plus in Sept 17 as well as stiffer competition with the impending entry of TPG Telecom in 2018. M1 remains a takeover target should the industry consolidate from four to three players. Revenue contributions from fixed services have increased 21.5 per cent year-on-year and accounted for 15.2 per cent of service revenue in Q2 2017. Valuations are near levels during the aftermath of the global financial crisis in 2009.

CapitaLand Mall Trust > Buy OCBC Investment Research, Aug 18 Aug 18 close: S$2.13 Target price: S$2.20