UBS rates out-of-favour Chorus a 'buy', Telecom cut to a 'sell'

Thu, 31 Jul 2014

By Suze Metherell July 31 (BusinessDesk) - Chorus, whose shares have halved in value from their 2012 peak, offers long-term value given the prospects for ultra-fast broadband, while Telecom faces a challenge rebranding in a competitive services market, UBS analysts say. "Although Chorus's investment story remains complex, progress on non-regulatory issues is positive," UBS analysts Richard Eary, Tristan Joll and Eric Choi wrote in a July 28 report. "We retain the view that fundamental value will emerge beyond the regulatory maelst...

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