0704 GMT - Singapore Airlines' 2H FY 2024 results are likely to be strong, CGS-CIMB analyst Raymond Yap says in a research note. SIA's 3Q performance is expected to be robust, driven by strong passenger load factor of 87%-88% in October-November, which should rise to around 90% in December due to year-end holidays, the analyst says. SIA's cargo load factor should also increase to 59% in December, thanks to robust e-commerce trade between China and both Europe and the U.S., the analyst adds. The brokerage raises the stock's rating to add from reduce and the target price to S$6.91 from S$5.47. Shares are 1.2% higher at S$6.51. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
January 10, 2024 02:04 ET (07:04 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
Comments