Stock Name: DIGI
Company Name: DIGI.COM BHD
Public Bank Investment Research cut its target price for DiGi.Com Bhd to RM5.40 from RM5.59, saying the telecommunications company's first-quarter results were below expectations.
"We consider the results to be slightly below expectations. We expect its net profit to pick up in the second half, after the completion of its network modernisation and lower sales in subsequent quarters," said Public Bank in a report on Wednesday.
The brokerage maintained an 'outperform' rating on the company.
Revenue for the quarter ended March 31 rose 4.9 per cent to RM1.65 billion on higher data earnings and handset sales, while net profit improved on lower tax expenses and higher depreciation charges.
Shares of DiGi were down 1.08 per cent at RM4.59 ringgit while the benchmark index had gained 0.2 per cent as at 9.39am.-- Reuters
Company Name: DIGI.COM BHD
| Research House: PUBLIC BANK | Price Call: BUY | Target Price: 5.40 |
Public Bank Investment Research cut its target price for DiGi.Com Bhd to RM5.40 from RM5.59, saying the telecommunications company's first-quarter results were below expectations.
"We consider the results to be slightly below expectations. We expect its net profit to pick up in the second half, after the completion of its network modernisation and lower sales in subsequent quarters," said Public Bank in a report on Wednesday.
The brokerage maintained an 'outperform' rating on the company.
Revenue for the quarter ended March 31 rose 4.9 per cent to RM1.65 billion on higher data earnings and handset sales, while net profit improved on lower tax expenses and higher depreciation charges.
Shares of DiGi were down 1.08 per cent at RM4.59 ringgit while the benchmark index had gained 0.2 per cent as at 9.39am.-- Reuters
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