Wellington-based telecommunications infrastructure company CNU rallied strongly after its FY24 results were released in August. The company reported steady progress with its fibre connection rollout and an 8% increase in network traffic over the financial year. CNU also rewarded shareholders with solid FY25 guidance, into average expectations while lifting its payout, putting the stock on an estimated 5.6% yield over the coming 12-months.
- We see better value elsewhere from its ASX-related alternatives.
MM is neutral towards CNU, around $8
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