StarHub
Hold (Downgrade)
OCBC Investment Research | June 10
Close: S$3.57
Target price: S$3.69
SINCE our upgrade to "buy" on March 31, StarHub has made a strong recovery from S$3.31 then to a recent high of S$3.70, or about 12 per cent. And if we add in the quarterly dividend of S$0.05 that was paid on May 27, the total return would have been just over 13 per cent.
Having said that, the recent strong run-up also meant that the current share price has hit our discounted cash flow-based fair value of S$3.69....
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