Stock Name: SingTel
Company Name: SINGTEL
Research House: UOB KayHian
“Emerging economies in this region also face risk of higher inflation and weaker currencies,” which could weaken earnings, said UOB in a report.
Company Name: SINGTEL
Research House: UOB KayHian
UOB Kay Hian has cut its target price for Singapore Telecommunications (STEL.SI) to $3.07 from $3.17 and kept its sell rating.
Although SingTel has been benefiting from buoyant domestic consumption in Singapore, UOB noted that competition in the region was heating up and may continue to affect SingTel’s earnings.
Although SingTel has been benefiting from buoyant domestic consumption in Singapore, UOB noted that competition in the region was heating up and may continue to affect SingTel’s earnings.
“Emerging economies in this region also face risk of higher inflation and weaker currencies,” which could weaken earnings, said UOB in a report.
SingTel reported on Thursday its third quarter underlying net profit fell 2.2% to $968 million, beating market expectations as strong performances in Singapore and Australia helped cushion falling contributions from its Indian operation.
At 9:22 a.m., shares of SingTel were 0.33% higher at $3.06, and have also gained the same amount since the start of the year.
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