Stock Name: SATS
Company Name: SATS LTD.
DBS Vickers Securities in a June 10 research report says: "Changi Airport Group (CAG) announced that it has awarded the 3rd Ground Handling licence to US-based Aircraft Service International Group (ASIG), from a tender exercise which saw proposals from 3 parties.
"At this point, we see minimal impact on SATS given that ASIG does not yet have any significant presence in Asia, except for a refueling operation in Thailand's Suvarnabhumi Airport. We have already factored in an erosion of market share by SATS over the next couple of years.
"We have assumed that SATS' market share in passenger handling, flights and cargo handled to drop by c.2ppt per year till 2013. Target price of $2.91. MAINTAIN HOLD."
Company Name: SATS LTD.
| Research House: DBS Vickers | Price Call: HOLD | Target Price: 2.91 |
DBS Vickers Securities in a June 10 research report says: "Changi Airport Group (CAG) announced that it has awarded the 3rd Ground Handling licence to US-based Aircraft Service International Group (ASIG), from a tender exercise which saw proposals from 3 parties.
"At this point, we see minimal impact on SATS given that ASIG does not yet have any significant presence in Asia, except for a refueling operation in Thailand's Suvarnabhumi Airport. We have already factored in an erosion of market share by SATS over the next couple of years.
"We have assumed that SATS' market share in passenger handling, flights and cargo handled to drop by c.2ppt per year till 2013. Target price of $2.91. MAINTAIN HOLD."
No comments:
Post a Comment