Singtel Earnings May Be Boosted by Bharti Airtel Price Increase -- Market Talk

Dow Jones2024-07-01

0547 GMT - Singapore Telecommunications' earnings could get a boost from Bharti Airtel's recent move to raise product prices, Maybank Research analyst Hussaini Saifee says in a note. Singtel's 29%-owned Indian associate is increasing prices on mobile plans by 10%-21%, which could raise Airtel's India mobile revenues by 7%-9% for FY 2025-FY 2027, he says. That leads Maybank to raise its earnings forecasts for Singtel by 4%-8% over the same period. It also increases the target price on the Singapore telecom company to S$3.40 from S$3.24, citing a higher valuation for Bharti Airtel. Singtel shares are flat at S$2.75. (amanda.lee@wsj.com)

(END) Dow Jones Newswires

July 01, 2024 01:47 ET (05:47 GMT)

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