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Singtel Bullish???
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pasttime
Supreme |
03-Feb-2024 11:29
Yells: "gold silver are real money. not others iou." |
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end of day is still money fight money. if analyst has no enough money to back his talk the price cannot fly. management still need to find money owner to believe in them. for share price to fly | ||||
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Entropy72
Master |
03-Feb-2024 10:22
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The Edge Singapore
Singapore Telecommunications Price target: DBS Group Research ?buy? $3.39 A rally ?finally?? DBS Group Research?s Sachin Mittal expects Singtel to post annual earnings growth of 10% when it reports its results for the financial year ending March 31, as he keeps his ?buy? call and $3.39 target price, citing, in his Jan 26 report, two reasons to expect a rally, ?finally?. First, the telco enjoys the benefits of geographical diversification. Currently, Singtel is the number one integrated player in Singapore, owns the number two mobile player in Australia, and holds significant stakes in its telecom associates in India, Indonesia, Philippines, and Thailand, contributing to over 67% of its operating profit in FY2023. Mittal observes that Singtel?s holding company discount has expanded to a record 51% as its share price has not kept pace with its associates? market value. Bharti Airtel?s share price, for one, gained around 50% in the past year. Singtel owns an effective stake of around 30% in the Indian telco which makes its stake worth $33 billion. In contrast, Singtel?s market cap is at around $40 billion. ?The holding company discount has expanded from less than 15% in FY2018 to 51% as the share does not reflect the rise in the market value of its associates, especially Bharti. This can be explained by Singtel?s return on investment capital (ROIC) falling below its weighted average cost of capital (WACC) since FY2020 due to a sharp decline in core operating profit excluding associates over the last five years,? he explains. The analyst expects the holding company discount to narrow to 20%, with a recovery in Singtel?s core operating profit led by annual cost-savings of $200 million over FY2023 to FY2026 and growth in the businesses of its IT-serving arm, NCS, and its data centres. Mittal adds that a divestment target of $6 billion at over 36 cents a share over FY2023 to FY2026 including associates ?should uplift? ROIC and support a 90% payout ratio over the next three years. On this he expands: ?We project its ROIC to reach 7.2% in FY2024, exceeding a WACC of 7%. Singtel could also benefit from potential divestments and a higher payout ratio of 90% in 2H2024F versus a 77% payout ratio in 1HFY2024.? At present, the analyst?s fair value for Singtel?s core businesses in Singapore and Australia is at 84 cents per share, at 5x FY2023 EV/Ebitda as he adjusts the net debt position. After a 20% holding company discount, regional associates are worth $2.56 per share mainly due to a sharp rise in the market value of Bharti. Key risks noted by Mittal include the Australian dollar?s further decline adversely impacting Singtel?s business in the country via Optus and any irrational competition. He writes: ?Our base case assumes a gradual recovery in Optus?s operating profit.? |
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Ftyeng
Senior |
03-Feb-2024 10:11
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Hugh chunk of profit coming from mobile businesses. With aggressive marketing by players like SIMBA, would there be further profit erosion? If profit is not good enough, then price would fall further. |
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112233
Master |
02-Feb-2024 17:18
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aiyo, next monday this ah peh most likely lim kopi at kopitiam, reminiscing his youthful days of full erection at 4.40 in 2015. sob. sob.
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huattuatua
Elite |
02-Feb-2024 17:07
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closing eat up 3 over M shares at 244 think monday another run up just my pov. |
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seanpent
Supreme |
02-Feb-2024 15:15
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no wonder 112233 call it ah peh .....
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huattuatua
Elite |
02-Feb-2024 15:11
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245 a big hurdle there
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huattuatua
Elite |
02-Feb-2024 15:10
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if thats the case, monday shouldnt have any problems breaching the sturborn R of 248, just my pov.
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huattuatua
Elite |
02-Feb-2024 15:08
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hahahaha
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seanpent
Supreme |
02-Feb-2024 14:38
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ah peh bb + late bloomer ... lol ...
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seanpent
Supreme |
02-Feb-2024 13:16
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guessing ..... a 2.46 closing .....
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seanpent
Supreme |
02-Feb-2024 11:47
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funny one ... lol ...
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112233
Master |
02-Feb-2024 11:45
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singtel ah peh met BBs in the washroom, saw their powerful weapon down there, singtel ah peh little brother shrunk into peanut size. haha.
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seanpent
Supreme |
02-Feb-2024 11:32
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haha ... the BBs ?
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112233
Master |
02-Feb-2024 11:21
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erectile dysfunction old man cannot sustain lah. pui. partner with Nividia also no use. must partner with Viagra lah. | ||||
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Potato
Master |
02-Feb-2024 11:15
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Gd morning~~ wah today everywhere green green... this sicktel move a bit only... knn | ||||
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seanpent
Supreme |
02-Feb-2024 10:25
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true ..... Nividia synergies abound .....
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huattuatua
Elite |
02-Feb-2024 10:23
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nvidia is the future whoever partners with them high probability of huat
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seanpent
Supreme |
02-Feb-2024 10:18
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The Nvidia magic ?
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huattuatua
Elite |
02-Feb-2024 10:09
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this time round becos of teaming up with nvidia, so i will see whether if it crosses 43/44 to make a decision in due course. today appears to be strong |
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