FY18 guidance has been reaffirmed although Deutsche Bank notes some soft first quarter operating trends, including a slight decline in mobile service revenue and slower rate of growth in post-paid ARPU.
Deutsche Bank had already been forecasting a reduction in the number of first half post-paid net additions.
Management has also signalled that demand for the iPhone 8 has been below previous iPhone launches.
Deutsche Bank retains a Buy rating and raises the target to $4.05 from $4.00.
Sector: Telecommunication Services.
Target price is $4.05.Current Price is $3.57. Difference: $0.49 – (brackets indicate current price is over target). If TLS meets the Deutsche Bank target it will return approximately 12% (excluding dividends, fees and charges – negative figures indicate an expected loss).