JPMorgan has raised Singapore Telecom (Z74.SG) target price to $3.40 from $3.05 on back of earnings upgrades, maintains ‘neutral’ rating, says Dow Jones Market Talk.
It has also lifted FY10, FY11 net profit forecasts by 9.7%, 12.8% respectively, to factor in higher assumed associate contributions after incorporating new estimates for Indonesian associate Telkomsel, Philippines associate Globe, Indian associate Bharti.
