Stock Name: SingTel
Company Name: SINGTEL
Having acquired National Computer Systems and Singapore Computer Systems to build up its IT and engineering business, SingTel is well positioned for growth in cloud computing and to provide cloud-based solutions for corporate customers, UOB said.
Company Name: SINGTEL
| Research House: UOB KayHian | Price Call: BUY | Target Price: 3.48 |
UOB Kay Hian has upgraded Southeast Asia’s largest telecommunications firm Singapore Telecommunications (STEL.SI) to buy from sell and raised its target price to $3.48 from $3.16.
UOB raised its forecast for SingTel to take into account the rally in share price of its Indian associate Bharti Airtel as well as an expected increase in post-paid mobile average revenue per user (ARPU) as cloud computing services become more popular.
UOB raised its forecast for SingTel to take into account the rally in share price of its Indian associate Bharti Airtel as well as an expected increase in post-paid mobile average revenue per user (ARPU) as cloud computing services become more popular.
Having acquired National Computer Systems and Singapore Computer Systems to build up its IT and engineering business, SingTel is well positioned for growth in cloud computing and to provide cloud-based solutions for corporate customers, UOB said.
SingTel’s India operations is also likely to benefit from a more favourable operating environment in the country, the brokerage said.
“Pricing pressure in mobile communications (in India) have eased after competitors depleted their financial resources to put in extensive bids for 3G spectrum,” it said.
At 9:24 a.m., shares of SingTel were 0.63% higher at $3.19. They have gained 4.6% since the start of the year.
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