Stock Name: SIA
Company Name: SINGAPORE AIRLINES LTD
OCBC Investment Research in an Oct 7 research report says: "Singapore Airlines (SIA) saw passenger kilometres (RPK) grew 3.0% y-o-y and passenger capacity (ASK) increased by 5.1% y-o-y in August. SIA's falling load factors in both passenger and cargo segments are expected and have previously been factored into our earnings model.
"Although SIA's share price has fallen 0.9% since we issued our initiation report on 28 Sep 2011, it displayed some of its defensive nature when compared to the 4.5% drop in the FTSE STI over the same period.
"We are maintaining our fair value estimate of $12.59 per share, representing a potential upside of 11.4% from current level. MAINTAIN BUY."
Company Name: SINGAPORE AIRLINES LTD
| Research House: OCBC | Price Call: BUY | Target Price: 12.59 |
OCBC Investment Research in an Oct 7 research report says: "Singapore Airlines (SIA) saw passenger kilometres (RPK) grew 3.0% y-o-y and passenger capacity (ASK) increased by 5.1% y-o-y in August. SIA's falling load factors in both passenger and cargo segments are expected and have previously been factored into our earnings model.
"Although SIA's share price has fallen 0.9% since we issued our initiation report on 28 Sep 2011, it displayed some of its defensive nature when compared to the 4.5% drop in the FTSE STI over the same period.
"We are maintaining our fair value estimate of $12.59 per share, representing a potential upside of 11.4% from current level. MAINTAIN BUY."
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