0025 GMT - Aussie Broadband's attractive retail pricing and lack of outdated legacy operations earn the Australian internet provider a new bull at Citi. Analyst William Park initiates coverage of the stock with a buy rating, telling clients in a note that he sees Aussie's subscriber growth continuing to outpace the broader market. With consumers' data consumption soaring, Aussie's strong sales of higher-speed plans look positive and supportive of average-revenue-per-user growth, Park says. The company has no older assets acting as a drag on growth, he adds. Citi places a A$4.40 target price on the stock, which is up 1.4% at A$3.74. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
November 11, 2024 19:25 ET (00:25 GMT)
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