Singapore Telecommunications Set to Pose Steady EPS Growth -- Market Talk

Dow Jones07-10

0511 GMT - Singapore Telecommunications could post steady EPS growth over FY 2025-FY 2027, thanks to its core business EBIT recovery and associates' profit growth, CGS International analysts say in a note. Sentiment on the telecom company's earnings outlook is improving on a healthy EBIT recovery, they say adding that the company has guided for FY 2025 EBIT growth of high-single to low-double-digit. The analysts raise their FY 2025-FY 2027 core EPS forecast by 5%-7% mainly on expected higher earnings contribution from Singtel's Indian associate Bharti Airtel, which raised its mobile tariffs by 10%-21% this month. CGS International raises the stock's target to S$3.30 from S$2.90 with an unchanged add rating. Shares are 0.7% higher at S$2.92.(amanda.lee@wsj.com)

(END) Dow Jones Newswires

July 10, 2024 01:11 ET (05:11 GMT)

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