Brokers' take
M1 | Sell (maintained) Jan 30 close: S$2.06 Target price: S$1.77 Maybank Kim Eng, Jan 29
M1 recorded a softer Q4 2018 that missed consensus net profit by 7 per cent but beat ours by 15 per cent. Total revenues were driven by equipment sales as wireless service revenues were down quarter-on-quarter (q-o-q) and year-on-year (y-o-y).
Although part of equipment sales is accounted for by contract revenues, net of handset costs, subsidies increased in the quarter. Meanwhi…
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