SINGAPORE (June 1): Daiwa Capital Markets is keeping Singapore Telecom at “hold” with an unchanged target price of $3.90, despite the “weak outlook at its Indian and Thai associates”.

Daiwa analyst Ramakrishna Maruvada says Singtel’s growth areas will lie in its digital marketing, cyber security and cloud services.

In addition, Singtel’s Australian subsidiary, Optus, is likely to be boosted by English Premier League broadcast rights, which will drive subscriber and revenue market share over the coming years.

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