DBS Raises Singtel’s TP To $4.58, Says Telco’s Core Value Could Increase By 180%

Edge06-23

DBS Group Research analyst Sachin Mittal has kept his “buy” call on Singapore Telecommunications(Singtel) with a higher target price of $4.58 from $4.40 previously, as he expects the market to reward the telco for improving its core business.

Over the next 12 months, Mittal expects Singtel’s core value to grow by 180% with growth in its data centre business, NCS and Australian subsidiary, Optus, expected to drive a core business net profit compound annual growth rate (CAGR) of 10% over FY2025 to FY2028.

The higher core net profit is underpinned by a projected core ebit growth of 9% over FY2025 to FY2028, supported by a 5% growth in Singapore’s ebit as well as a 15% growth in Optus’ ebit from FY2025 to FY2028.


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Comments

  • SnideWhistle
    06-25
    SnideWhistle
    Confirm buay zun, it should be $5.48! 🤭
  • BoonHuat
    06-25
    BoonHuat
    Nice, hope you are right...
  • himynameis
    06-23
    himynameis
    Wa $4.50 TP! Zun bo?
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