Singapore Airlines Operating Data Signals Better Earnings -- Market Talk

Dow Jones03-21

0200 GMT - Singapore Airlines' operational data were stronger-than-expected in February, boding well for earnings, UOB Kay Hian analyst Roy Chen says in a research report. SIA's passenger data for the month were upbeat, with the load factor benefiting from a boost in Chinese visitor arrivals after Singapore's implementation of visa-free arrangement for Chinese visitors, the analyst says. SIA's cargo data were also better than expected, supported by robust e-commerce demand, the analyst adds. The brokerage raises its FY 2024 net profit forecast for SIA by 1.8%. It raises the stock's target price to S$6.31 from $6.28 and maintains a hold rating. Shares are 0.3% higher at S$6.39. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

March 20, 2024 22:00 ET (02:00 GMT)

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The brokerage raises its FY 2024 net profit forecast for SIA by 1.8%. It raises the stock's target price to S$6.31 from $6.28 and maintains a hold rating. Shares are 0.3% higher at S$6.39. 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