Singapore Airlines' Higher Costs Remain a Concern -- Market Talk

Dow Jones02-21

0309 GMT - Singapore Airlines' 3Q earnings missed earnings estimates, with the increase in net fuel costs a standout factor, Citi analyst Kaseedit Choonnawat says in a research note. While strong demand guidance into the June quarter and overall passenger yield strength in 3Q is encouraging, the softer than peers' cargo yield increases and upward cost pressures need further information, he says.The stock may initially react negatively to the earnings miss in the short term, he adds. Citi maintains its buy rating and target of S$7.72 on the stock, which is 8.7% lower at S$6.73. (kimberley.kao@wsj.com)

(END) Dow Jones Newswires

February 20, 2024 22:09 ET (03:09 GMT)

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Citi maintains its buy rating and target of S$7.72 on the stock, which is 8.7% lower at S$6.73. 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While strong ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SG9999013486.USD","symbol_name":"LIONGLOBAL SINGAPORE DIVIDEND EQUITY (USD) INC A","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2413784465","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2413784465","pubTimestamp":1708484940,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0309 GMT - Singapore Airlines' 3Q earnings missed earnings estimates, with the increase in net fuel costs a standout factor, Citi analyst Kaseedit Choonnawat says in a research note. While strong demand guidance into the June quarter and overall passenger yield strength in 3Q is encouraging, the softer than peers' cargo yield increases and upward cost pressures need further information, he says.The stock may initially react negatively to the earnings miss in the short term, he adds. Citi maintains its buy rating and target of S$7.72 on the stock, which is 8.7% lower at S$6.73. 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