SPK – Credit Suisse rates the stock as Underperform

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First-half earnings growth was in line with forecasts, although Credit Suisse suspects the business may be heading towards the bottom end of guidance for FY19.

To achieve the growth expected over the next two years the broker believes the company will need to execute on the next wave of cost reduction initiatives.

Underperform rating retained on valuation and the risks around competition and investment. NZ$3.28 target maintained.

Sector: Telecommunication Services.

Current Price is $3.74. Target price not assessed.

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