SMU undergraduates Nevin Tan, Jonathan Khoh, Yim Yi Xiang and Louis Quek were the winners of the NUS-Singapore Exchange Stock Pitch Competition 2017. The team had made a pitch to "buy" telco giant Singtel with a target price of S$4.52. "We wanted a challenge because we knew the valuation for Singtel is a tough one, as we had to value every single subsidiary," Nevin said. The team argued that Singtel is a first mover in the next-generation 5G mobile network and can receive a boost in data consumption once it is implemented. Its associate companies are also poised for growth, while its diversified free cash flow sources would mean sustainable dividends, the team said.