Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
The latest announcement is out from Aussie Broadband Ltd. ( (AU:ABB) ).
Aussie Broadband Ltd. has entered into a six-year exclusive wholesale agreement with More Telecom and Tangerine Telecom, significantly expanding its broadband connections by over 250,000. This strategic move is expected to elevate Aussie Broadband’s total connections to approximately 1.04 million, positioning it as the fourth largest NBN provider in Australia. The agreement is anticipated to contribute an estimated $12 million in annualized underlying EBITDA from FY27, with further growth potential through increased data consumption and customer base expansion. The transaction also involves the sale of the Buddy Telco brand to Tangerine, and the use of Aussie Broadband’s digital wholesale platform, Nitrogen, to support the partnership.
The most recent analyst rating on (AU:ABB) stock is a Buy with a A$5.00 price target. To see the full list of analyst forecasts on Aussie Broadband Ltd. stock, see the AU:ABB Stock Forecast page.
More about Aussie Broadband Ltd.
Aussie Broadband Ltd. operates in the telecommunications industry, providing broadband services primarily through the National Broadband Network (NBN) in Australia. The company focuses on delivering high-quality internet services to residential and business customers, leveraging its digital platforms to enhance service delivery and scalability.
Average Trading Volume: 763,400
Technical Sentiment Signal: Buy
Current Market Cap: A$1.28B
For a thorough assessment of ABB stock, go to TipRanks’ Stock Analysis page.