Morgan Stanley expects SingTel’s (Z74.SG) share price to fall in absolute terms over the next 60 days, reported Dow Jones Newswires.
The broker says this is because the stock has traded up recently, making the short term valuation much less attractive. Notes that the share prices of SingTel’s key affiliates Bharti (532454.BY) and Telkomsel are down 7%-10% year-to-date whereas SingTel shares are up 3% year-to-date.