SINGAPORE, March 16 (Reuters) - Following is a list of stock
price target changes and rating changes.
COMPANY RIC BROKER RATING (PVS) TARGET PRICE (PVS) SINGAPORE DMG NEUTRAL S$16.71 (S$16.71) AIRLINES (BUY)
STATEMENT: As management had earlier guided for overall yields to hold firm after the surge in third quarter, we expect another profitable quarter in fourth quarter. We continue to believe the airline would gradually raise fares given the improvement in air traffic. The opening of two integrated resorts in Singapore would also provide an additional kicker to air traffic in the medium term, while the fact that crude oil prices have stabilized at around $80 per barrel has also helped keep fuel cost constant. Fundamentals aside, Singapore Airlines' share price has gained 15.5 percent since our last upgrade to 'BUY' in late January 2010, leaving limited upside potential of 5.9 percent to our target price of S$16.71. Together with the operating numbers which may take a while to consolidate before further improvement, we prefer to maintain our already aggressive valuation parameter of 15-times of its 2010 financial results earnings per share hence downgrading our recommendation to NEUTRAL.
(Singapore Newsroom, +65 6403 5677, harry.suhartono@thomsonreuters.com) For Singapore Hot Stock reports click on For Southeast Asia stock reports click on For breaking Asian equity news headlines For emerging market forex reports click on For Top News package click on Keywords: SINGAPORE MARKET STOCKS/RESEARCH (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
COMPANY RIC BROKER RATING (PVS) TARGET PRICE (PVS) SINGAPORE DMG NEUTRAL S$16.71 (S$16.71) AIRLINES (BUY)
STATEMENT: As management had earlier guided for overall yields to hold firm after the surge in third quarter, we expect another profitable quarter in fourth quarter. We continue to believe the airline would gradually raise fares given the improvement in air traffic. The opening of two integrated resorts in Singapore would also provide an additional kicker to air traffic in the medium term, while the fact that crude oil prices have stabilized at around $80 per barrel has also helped keep fuel cost constant. Fundamentals aside, Singapore Airlines' share price has gained 15.5 percent since our last upgrade to 'BUY' in late January 2010, leaving limited upside potential of 5.9 percent to our target price of S$16.71. Together with the operating numbers which may take a while to consolidate before further improvement, we prefer to maintain our already aggressive valuation parameter of 15-times of its 2010 financial results earnings per share hence downgrading our recommendation to NEUTRAL.
(Singapore Newsroom, +65 6403 5677, harry.suhartono@thomsonreuters.com) For Singapore Hot Stock reports click on For Southeast Asia stock reports click on For breaking Asian equity news headlines For emerging market forex reports click on For Top News package click on Keywords: SINGAPORE MARKET STOCKS/RESEARCH (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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