NRA Capital Pte Ltd

Written by: NRA Research Team

Thursday 7 Aug 2014

Nera Telecommunications - 2Q14 Results Update

Recurring revenue growing steadily

Given the lower-than-expected performance in 2Q14, we lower our FY14-FY16 estimates by 10-17%. We roll over our valuation from 11.1x FY14 PER to FY15, in line with its peers. As a result, we lower our fair value by 1 ct to 75 cents. Although currently trading 5% above our fair value, we maintain our Neutral recommendation as it is supported by its reasonable projected dividend yield of 6.5%.

Please login

Premium Content

Premium Content

This article requires a premium subscription. Click here to upgrade.

If you are not yet a registered member of NetResearch Asia, please click here to register before paying.

If you accessing this site though Lim&Tan's website and using Internet Explorer, please click here  to rectify access issues.

Access to this Web site is granted by NRA Capital Pte. Ltd. strictly on the terms and subject to the conditions set out hereunder. By entering into the Web Site, Subscriber is deemed to have accepted and agreed to be bound by the terms and conditions  set out hereunder.