UBS has surveyed investors, finding the biggest issue is competition in the NZ telco market. The broker suggests there is a low probability of a dividend reduction, as competition has been more rational in 2019.
There is also some room to manage the company’s credit rating thresholds. Neutral rating and NZ$3.85 target maintained.
Sector: Telecommunication Services.
Current Price is $3.80. Target price not assessed.
