(From Article)
SingTel, StarHub and M1 have corrected 8.6%, 14.1% and 15.1% respectively from their recent peaks. The correction for yield plays offers us an opportunity to accumulate telcos given stable yields and defensive qualities. They generate strong free cash
flow and have low gearing. We recommend accumulating M1 (M1 SP/BUY/TP: S$3.72) and StarHub (STH SP/BUY/TP: S$4.70) due to their more attractive dividend yields.
flow and have low gearing. We recommend accumulating M1 (M1 SP/BUY/TP: S$3.72) and StarHub (STH SP/BUY/TP: S$4.70) due to their more attractive dividend yields.
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