not vested
Aug 25, 2022
Going stronger
A new high
2Q22 core net profit was again above our/consensus forecasts and represents a new quarterly high.
The beat was due to EBITDA outperformance and lower-than-expected depreciation.
The overall outlook remains favourable in our view, with TM potentially benefitting
from strong fibre uptake and ongoing cost optimisation.
Reiterate BUY with a higher DCF-based MYR7.80 TP (+4%). TM remains our preferred
sector pick.
Source: Maybank
https://rfs.cgs-cimb.com/api/download?f ... EE720486EC