Stock Name: SIA
Company Name: SINGAPORE AIRLINES LTD
Research House: Credit Suisse
Adds, cargo demand +9.2% on year, +2% on month; “the Asian air cargo market is stabilising, and could see further improvement as we head into the seasonally stronger 4Q,” house says.
Company Name: SINGAPORE AIRLINES LTD
Research House: Credit Suisse
Credit Suisse keeps Singapore Airlines (C6L.SG) at Outperform with $18.50 target after carrier’s September operating numbers, says Dow Jones; notes passenger demand virtually flat on year, on month, “which we believe is decent, given that September is usually one of the weakest in 2H. On the positive side, passenger load factor rebounded 2% on month, and remained high by historical standard. This should imply a favourable pricing environment, in our view.”
Adds, cargo demand +9.2% on year, +2% on month; “the Asian air cargo market is stabilising, and could see further improvement as we head into the seasonally stronger 4Q,” house says.
Notes, forward P/B of 1.3X, EV/EBITDAR of 5.0X at or below historical averages; target implies 1.5X forward P/B. Shares down 0.6% at $16.12.
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