Stock Name: SIA
Company Name: SINGAPORE AIRLINES LTD
Research House: Daiwa
Notes carrier’s current valuation has lagged “high valuation” regional peers since start of year, reflecting slow traffic, yield growth; “we believe a continuous earnings and yield recovery in the coming quarters will lead to improved investor sentiment on the stock.”
Company Name: SINGAPORE AIRLINES LTD
Research House: Daiwa
Daiwa Securities raises Singapore Airlines (C6L.SG) 6-month target price to $18.08 to $15.23, says Dow Jones, upgrades rating to Outperform from Hold; says upgrade due to upward revisions in Daiwa’s traffic forecasts for FY2011, also expects $409 million net profit in 2Q.
Notes carrier’s current valuation has lagged “high valuation” regional peers since start of year, reflecting slow traffic, yield growth; “we believe a continuous earnings and yield recovery in the coming quarters will lead to improved investor sentiment on the stock.”
Adds, overall number of tourists flying into Singapore +20% on-year for January-July period. “We think the gradual completion of the integrated resort and strong capacity growth from FY12 onward will help boost the company's earnings.”
Share price last down 0.4% at $16.16.
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