Stock Name: SingPost
Company Name: SINGAPORE POST LIMITED
Company Name: SINGAPORE POST LIMITED
| Research House: CIMB | Price Call: HOLD | Target Price: 2.08 |
SINGAPORE (Feb 4): SingPost's earnings of $116 million for the nine months ended December came in slightly below expectations at 74% to 75% of CIMB's consensus full-year forecasts, writes analyst Jessalynn Chen in a note today.
"The third quarter is seasonally the strongest quarter and the nine months earnings accounts for 77% to 80% of the full-year figure," she adds.
SingPost has a long road to transformation and cost pressures continue to erode value creation in the near-term, Chen writes. "We would look to enter at more palatable valuations," she notes.
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