StarHub’s New CEO Takes Over One of Singapore’s Worst-Performing Stocks
- Carrier is Straits Times’ worst performer; down 42% this year
- Company needs to address consumer strategy, analyst says
Photographer: Nicky Loh/Bloomberg
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After plunging about 42 percent this year, StarHub Ltd. shares may be set for a modest turnaround, just as incoming Chief Executive Officer Peter Kaliaropoulos takes over next week.
“There is a bottom,” Ramakrishna Maruvada, an analyst at Daiwa Securities Group Inc., said in an interview. He upgraded the shares to hold from sell last week, citing the plunge this year as evidence that the challenges from rival carriers and from entertainment platforms like Netflix Inc. have been adequately discounted.