RHB Bank Singapore has kept a "neutral" call on the telecommunications sector, with the SIM-only market to continue being robust, The Edge Singapore reported Tuesday.
The industry may see more mergers and acquisitions amid lower interest rates and solid valuations, especially for infrastructure assets, the report cited the equity research firm's analysts as saying.
Technology-related themes such as "techcos" as a boost for telcos' franchise values and the rise of artificial intelligence (AI) are also anchoring prospects in the industry, the report said, citing the analysts.
Among stocks, RHB Bank prefers Singapore Telecommunications (SGX:Z74) given strong earnings forecasts and cost efficiencies, the report said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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