Singapore Exchange (C6L.SG) is off 0.5% at $8.22 as fiscal 3Q10 results fail to impress. While net profit +34.9% on-year at $74.6 million, CIMB says results below house’s $81.8 million forecast: “We expect street estimates to be cut following these results.”
Posts Tagged ‘L.SG’
SIA +0.8%; recovery in place but priced in: Citi
April 16th, 2010 |
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Singapore Airlines (C6L.SG) is up 0.8% at $15.56, bucking falls in most other blue chips, as stock underpinned by firmer growth expectations following continued pick-up in March operating performance, according to Dow Jones.
STI up 0.8%; more upside in coming weeks, says analyst
April 1st, 2010 |
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Singapore stocks recover part of yesterday’s losses, with modest gains in Japan, South Korea markets underpinning sentiment, says Dow Jones.
STI +0.8% at 2,911.12 but unlikely to challenge year-to-date high of 2,947. Despite gains, shares may still pull back later in session if investors square off positions ahead of long weekend; support expected at 2,850.
“I think there’s going to be a bit more upside in the coming weeks, with the STI possibly hitting 3,000, although there might be a brief consolidation in the process. This is based on the fact that the index recently almost managed to test its previous high set in January, and that Asian markets have so far been lagging the US market,” says an analyst at a local brokerage.
Market breadth at almost three gainers for every decliner.
Among blue chips, top percentage gainers led by Fraser & Neave (F99.SG), +2.9% at $4.94, Neptune Orient Lines (N03.SG), +3.0% at $2.07, Singapore Airlines (C6L.SG), +1.8% at $15.48.
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SIA raised to ‘buy’ by UOB KayHian, ups target price to $18
March 31st, 2010 |
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UOB KayHian has upgraded Singapore Airlines (C6L.SG) to “buy” from “hold”, raises target price to $18.00 from $13.20, based on 1.6x FY11 book, says Dow Jones.
SIA upgraded to buy by Goldman
March 17th, 2010 |
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Goldman Sachs has upgraded Singapore Airlines (C6L.SG) to “buy” from “neutral” saying airline has good leverage to recovery in corporate air travel, reported Dow Jones Newswires.
“In the next 3 to 6 months, we expect consensus upgrades on premium carriers to extend the share rally for SIA, as sustained recovery on corporate travel lifts yields and traffic growth,” says Goldman Sachs.
SIA cut to neutral at DMG, says upside limited
March 16th, 2010 |
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DMG has downgraded Singapore Airlines (C6L.SG) to “neutral” from “buy” saying stock’s recent gains mean that upside to broker’s $16.71 target price now limited.
The broker says airline’s February operating data was “satisfactory,” believes SIA will gradually increase fares given improvement in air traffic with opening of the integrated resorts in Singapore also likely to provide additional kicker to air traffic in medium term.
SIA target raised to $17.90 from $15.90 by CIMB
March 16th, 2010 |
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CIMB has raised Singapore Airlines (C6L.SG) target price to $17.90 from $15.90 after changing valuation basis to 14x FY11 P/E from 1.4x P/B to better reflect earnings recovery, reported Dow Jones Newswires.
SIA off 0.3%; needs fresh boost to go higher, says DMG
March 16th, 2010 |
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Singapore Airlines (C6L.SG) fails to get lift from robust February operating data as stock’s recent outperformance suppress buying interest; shares down 0.3% at $15.74 vs STI +0.2% with support tipped at 10-day moving average of $15.63, reported Dow Jones Newswires.
SIA data strong, but stock fairly valued, says Citi
March 16th, 2010 |
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Singapore Airlines (C6L.SG) yesterday reported February operating data showed continued improvement in traffic levels, load factors, reported Dow Jones Newswires.
But Citi says while data “encouraging,” stock looks fairly valued; “Operating statistics remained robust, likely benefiting from Chinese New Year holidays falling in February and the Singapore Airshow.”
SIA to benefit from tourist arrivals rebound, says Credit Suisse
March 9th, 2010 |
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Stronger-than-expected official Singapore tourist arrival forecasts will bode well for Singapore Airlines (C6L.SG), says Credit Suisse.
Singapore Tourism Board (STB), which announced latest 2010 Singapore tourist arrivals over the weekend, forecasts 11.5–12.5 million visitor arrivals this year vs broker’s expectation of 11.7 million and $17.5–18.5 billion in tourism receipts vs broker’s $16.3 billion forecast.
SIA downgraded to ‘sell’ by Citi with $16 price target
March 9th, 2010 |
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Citigroup has downgrades Singapore Airlines (C6L.SG) to “sell” from “buy”, trims target price to $16 from $16.10, based on 1.32x FY11 P/B vs 1.33x previously, on view that share price running ahead of fundamentals.
SIA may get lift from slowing traffic declines
February 18th, 2010 |
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Singapore Airlines (C6L.SG) may get bit of a boost from January operating data that show continued moderation in on-year passenger traffic declines.
Passenger traffic was down 1.6% on year in January vs December’s 4.3% drop, while cargo traffic up 3.3% on year in January. But some shine may be taken off data as passenger load factor slips to 79.1% in January vs 84.3% in December, while cargo load factor at 60.1% in January vs 63.4% in December.
Jetstar JV with AirAsia may pressure Tiger
January 6th, 2010 |
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Qantas (QAN.AU) is set to unveil plans for a joint-venture between its discount arm Jetstar and Malaysian budget carrier AirAsia (5099.KU) today in Sydney.
The JV is expected to be aimed at cutting costs through economies of scale in areas such as ground handling at airports they both service and in procurement, but the airlines expected to remain competitors and not consider cross ownership.
While the deal between two biggest discount carriers in Asia-Pacific could see cost savings of up to 10% in some areas, analysts told Dow Jones Newswires, the move is also being viewed by some as a way to ratchet up pressure on Singapore Airlines (C6L.SG)-backed Tiger Airways, which has been operating at a loss and is hoping to raise up to $250 million through an IPO early this year.
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SIA Engineering rated buy at BNP Paribas
January 5th, 2010 |
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BNP Paribas has initiated coverage of SIA Engineering (S59.SG) with a “buy”, setting a $4.15 target price with the stock being a prime play on recovery in air travel.
“Maintenance, repair and overhaul (MRO) industry and aviation service providers offer investors the best avenue to play the global air traffic recovery story without fuel risks or yield concerns,” says BNP Paribas.
The investment bank says the company’s revenue base remains solid as it holds over 85% share of the line maintenance market at Changi Airport and has a steady work flow from Singapore Airlines (C6L.SG).
The bank has also tipped the opening of Singapore’s integrated resorts and tourism collaborations between the Singapore government and Changi Airport to drive further earnings upside and expects sharp earnings turnaround to begin this year with rise an 18.7% rise in y-o-y net profit for 2011.
Trading at $3.48 now or about 14.7x FY11 earnings, BNP Paribas believes SIA Engineering could test the lower end of their peak PE valuation range of 18–21x in the next 12 months.
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SIA is top pick in transport sector for Credit Suisse
December 9th, 2009 |
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Next year 2010 should be a year of margin and earnings recovery for Singapore’s transport sector, says Credit Suisse.
The broker says Singapore Airlines (C6L.SG) is its top sector pick as is key beneficiary of rebound in premium travel, pickup in Singapore tourist arrivals.
“Demand outlook for airlines is improving and this presents a good opportunity for SIA to raise yields.” It has rated SIA an “outperform” with $16.70 target price.