M2 jumps on buy calls
- {{x.value}}
{{ twilioFailed ? 'SMS Code Failed to Send…' : 'Enter verification code' }}
{{ completedStep1 ? 'Authentication & Security' : content.trialHeading.replace('{0}', user.FirstName) }}
{{ content.upgradeHeading.replace('{0}', user.FirstName) }}
The email address you entered is registered with InvestSMART
Please login to continue
We have sent you an email with the details of your registration.
Looks you are already a member. Please enter your password to proceed
{{ upgradeCTAText }}
Updating information
Please wait ...
Your membership to InvestSMART Group recently failed to renew.
Please make sure your payment details are up to date to continue your membership.
Having trouble renewing?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
You've recently updated your payment details.
It may take a few minutes to update your subscription details, during this time you will not be able to view locked content.
If you are still having trouble viewing content after 10 minutes, try logging out of your account and logging back in.
Still having trouble viewing content?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
Please click on the ACTIVATE button to activate your Intelligent Investor 15-day free trial
Please click on the ACTIVATE button to finalise your membership
Unsuccessful registration
Registration for this event is available only to Eureka Report members. View our membership page for more information.
Registration for this event is available only to Intelligent Investor members. View our membership page for more information.
- You are already registered for this event.
- This event is already full.
- Please select a quantity for at least one ticket.
- {{ i }}
Forgotten password
Please enter your email address below to request a new password
- Verify your email address by clicking on the link we sent to {{user.Email}}
- You now have free access, we look forward to helping you on your financial journey.
M2 Telecommunications (MTU) has bounced after brokers said its recent share price fall provided investors with a good opportunity to buy the stock.
The Uncapped 100 company jumped 2.8% to $6.16 at 1338 AEST following the reports to clients from Citigroup and RBS Morgans, adding to its 3.8% gain on high volume on Friday – its biggest two-day rise in six months.
Citigroup upgraded its recommendation to "outperform" from "neutral" and maintained its price target at $6.85. As well as opportunity from the share price weakness, it said that with most of M2's staff now in Manila, the company would be able to leverage that into more sales, driving profits for the medium term.
RBS Morgans rates the telco a high conviction buy. It says the drop in its share price since it reported a record result in August, which sent the stock up to a record high of $7.06, makes MTU cheap with a price-earnings ratio of 11 times, given that guidance is set for underlying earnings of 50 cents a share.
Before M2's rise today and on Friday, the stock had slumped 18.3% to $5.77.