PCCW (00008.HK)'s media business is poised to break even in EBITDA this year, whereas its solutions business achieved shiny recovery in 2H21, said HSBC Global Research in its report. The broker upgraded the stock to Buy from Hold, lifting the target price to $5.4 from $4.8.
PCCW's disposal of the HK and Malaysia data centre business, and the de-consolidation of PCPD (00432.HK) in December 2021 streamlined reporting procedure, letting investors focus on the strength of the company's media and solutions businesses.
Besides, investors were cheered by Viu's resilience in a fiercely competitive environment in Southeast Asia with MAU/ paid subscriber growth of 30% and 58% last year.
PCCW's disposal of the HK and Malaysia data centre business, and the de-consolidation of PCPD (00432.HK) in December 2021 streamlined reporting procedure, letting investors focus on the strength of the company's media and solutions businesses.
Besides, investors were cheered by Viu's resilience in a fiercely competitive environment in Southeast Asia with MAU/ paid subscriber growth of 30% and 58% last year.