January 12, 2018 / 11:16 AM / 10 months ago

BUZZ-Shaw has upper hand in wireless battle - Barclays

** Barclays says Shaw Communications has upper hand in wireless battle, but is unlikely to pick a fight with rival Telus Corp

** Brokerage says Shaw targeting higher-value iPhone subscribers places it more squarely in Big 3’s crosshairs - raises PT on U.S. shares to $23 from $22

** “To be clear, I underestimated the importance of the iPhone .... it has changed all aspects of our wireless business,” Shaw president Jay Mehr said on post-earnings conference call

** However, Barclays thinks Shaw would least prefer to target Telus customers because Telus could retaliate with its fixedline business

** CIBC cuts PT to C$28 from C$31 & RBC lowers it to C$29 from C$30 after Shaw’s Q1 results missed est due to lower-than-expected cable margins

** Out of 16 brokerages covering Shaw’s Canadian stock, 6 recommend “buy”, 8 “hold” and 2 rate it “sell” or “strong sell” (Reporting by John Benny)

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