Stock Name: SingTel
Company Name: SINGTEL
Research House: Deutsche Bank
This increased earnings estimates for SingTel’s 2012 and 2013 financial years by 1.6% and 1.3%, respectively.
Company Name: SINGTEL
Research House: Deutsche Bank
Deutsche Bank has raised its target price on Singapore Telecommunications (SingTel) (STEL.SI) to $3.36 from $3.31 but maintained its hold rating.
Deutsche said it has revised up its Singapore dollar forecasts against all of SingTel’s key component currencies, with the exception of the Australian dollar and Indonesian rupiah.
Deutsche said it has revised up its Singapore dollar forecasts against all of SingTel’s key component currencies, with the exception of the Australian dollar and Indonesian rupiah.
This increased earnings estimates for SingTel’s 2012 and 2013 financial years by 1.6% and 1.3%, respectively.
Deutsche said investors may bet that SingTel could break out of its tight trading range given recent price stability and relative underperformance versus the broader Straits Times Index.
However, the brokerage said it expects SingTel to remain in its tight trading range over the medium term as there is no obvious fundamental or technical catalyst to drive the stock.
At 11:20 a.m., SingTel shares were down 0.3% at $3.05 on a volume of 2.8 million shares.
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