Sell Chorus, says Deutsche Bank, as regulatory risk multiplies

Fri, 21 Jun 2013

By Pattrick Smellie June 21 (BusinessDesk) – Telecommunications network owner Chorus faces too much regulatory risk and too little political will to overcome the cost blow-outs and pricing uncertainties under contracts to roll out the ultra-fast broadband network, say analysts for Deutsche Bank. In a 33 page report, the local branch of the global investment bank puts a “sell” recommendation on Chorus shares, targeting a share price over the next year of $2.29, compared with $2.57 two days ago, when the report was released. The shares have s...

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