0713 GMT - Singapore Airlines may enjoy higher-for-longer passenger yields as other airlines in the region deal with manpower shortages and other operational issues, OCBC Investment Research analyst Ada Lim says in a research note. Management expects SIA's forward sales through 1Q FY 2025 to remain robust, the analyst notes. Also, SIA's cargo yields may fall at a slower-than-expected pace, depending on developments in the Red Sea, the analyst adds. OCBC raises the stock's fair value estimate to S$8.00 from S$7.29 to reflect a higher target price-to-book ratio, with an unchanged hold rating. Shares are 9.4% lower at S$6.68. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
February 21, 2024 02:13 ET (07:13 GMT)
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