Citi backs Australia's beaten-down Tuas, expecting subscriber growth revival

** Shares of Australia's Tuas TUA.AX off 0.3% on the day and down 21% for the week since reporting slowing subscription momentum and regulatory concerns for Singapore teleco Simba

** Citi, however, reiterates its "buy" rating on the stock, with a TP of A$2.95, ~65% higher than current price of A$1.785

** Citi expects impact from scam-related SIM terminations to fade and subs growth to improve in FY27; Singtel STEL.SI, Southeast Asia's largest teleco, also facing SIM terminations

** All three analysts covering Tuas rate the stock "buy" or "strong buy", per LSEG data;

** Citi's PT is, however, the lowest, with others at A$3.28 and A$4.35

** Stock down 75% YTD, set to snap a three-year winning run