0617 GMT - PLDT's 2025 profit prospects look better on sustained revenue growth and digital bank Maya's income turnaround, SB Equities' Katrine Eunice Dolatre says in a research report. The brokerage expects the Philippines telecommunications company's 2025 service revenue growth to resume its 6% rate and reduced capital expenditures and cost-management efforts to further improve cash flows. The brokerage raises its 2024 and 2025 core EPS forecasts for PLDT by around 1%, partly on an expected turnaround of the telco-backed digital bank, which management has indicated will be profitable by 2024. SB Equities raises the stock's target price to PHP1,782.00 from PHP1,500.00 with an unchanged add rating. Shares are 2.5% higher at PHP1,312.00. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
January 15, 2025 01:17 ET (06:17 GMT)
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