Spark NZ Aiming To Counter The Growth In Fibre
Spark New Zealand has outlined its strategy out to FY23, including completing a roll-out of 5G while expanding its wireless offering and digital analytics.
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Chorus Limited
We continue to expand our network and improve our performance to help New Zealand grow. We are shaping a future where all Kiwis are free to access the opportunities to define their own lives.
No matter who or where you are, the opportunities just keep getting bigger as our internet infrastructure grows. If you want to, you can start a multi-billion dollar software company from the Hawke’s Bay, or connect to great educational tools that give your children chances to learn. You can even be transported in a millisecond to London, New York, or Shanghai through video-conferencing.
Globally, New Zealand broadband speeds are competitive and our access and usage is growing. When our fibre build programme is complete, it’s predicted New Zealand will rank in the top 10 OECD countries when it comes to the proportion of homes able to connect to fibre broadband.
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Analyst Views
CNU – Macquarie rates the stock as Neutral
The Neutral rating and target price of $7.61 are retained.
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CNU – UBS rates the stock as Sell
UBS maintains a Sell rating and NZ$7.00 target price and believes a lower than expected regulated asset base (RAB) and increasing wireless broadband competition pose a threat to medium-term dividends, which could be below 50cps.
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CNU – Credit Suisse rates the stock as Neutral
Credit Suisse updates forecasts to allow for changes in parameters associated with the weighted average cost of capital (WACC) which reflects the low-interest-rate environment. This has little impact on valuation
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CNU – UBS rates the stock as Sell
New Zealand's Commerce Commission (ComCom) released its final fibre input methodology (IM) report but UBS notes there were no material changes and the report will be valuation neutral for Chorus.
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