Stock Name: TM
Company Name: TELEKOM MALAYSIA BHD
Research House: OSK
KUALA LUMPUR: OSK Research said Telekom Malaysia's annualised 9MFY10 core earnings were in line with its but below consensus estimates.
The research house on Monday, Nov 29 there were no surprises in that its fixed line (DEL) business continued to languish with the internet and data segments providing the silver lining.
'We make no change to our forecast noting that Unifi will be dilutive to earnings over the medium term. TM is expensive on PER terms and lacks share price catalysts," it said.
OSK Research said however TM's decent dividend yield of 7.8% should mitigate any share price downside. Our TP is unchanged at RM3.28.
'We prefer DiGi for dividend exposure,' it said.
Company Name: TELEKOM MALAYSIA BHD
Research House: OSK
KUALA LUMPUR: OSK Research said Telekom Malaysia's annualised 9MFY10 core earnings were in line with its but below consensus estimates.
The research house on Monday, Nov 29 there were no surprises in that its fixed line (DEL) business continued to languish with the internet and data segments providing the silver lining.
'We make no change to our forecast noting that Unifi will be dilutive to earnings over the medium term. TM is expensive on PER terms and lacks share price catalysts," it said.
OSK Research said however TM's decent dividend yield of 7.8% should mitigate any share price downside. Our TP is unchanged at RM3.28.
'We prefer DiGi for dividend exposure,' it said.
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