Singtel Set to Gain From Data-Center Investments -- Market Talk

Dow Jones07-16

0544 GMT - Singapore Telecommunications stands to gain from its investments in data centers, OCBC Investment Research says in a note. Singtel's recent two data-center deals align with the company's new strategic plan to drive growth, and the telecom conglomerate is likely to benefit from robust data demand in the region, the research team says. Singtel's growth strategy, dubbed Singtel28, is aimed at improving business performance via initiatives such as cost optimization, and the company has identified a pipeline of around S$6 billion in monetizable assets to fund growth initiatives and dividend payments, the team adds. OCBC raises the stock's fair-value estimate to S$3.50 from S$3.04, with an unchanged buy rating. Shares are 0.7% higher at S$3.03. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

July 16, 2024 01:44 ET (05:44 GMT)

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Singtel's growth strategy, dubbed Singtel28, is aimed at improving business performance via initiatives such as cost optimization, and the company has identified a pipeline of around S$6 billion in monetizable assets to fund growth initiatives and dividend payments, the team adds. OCBC raises the stock's fair-value estimate to S$3.50 from S$3.04, with an unchanged buy rating. Shares are 0.7% higher at S$3.03. 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Singtel's recent two data-center deals align with the company's ...</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":"LU0532188223.SGD","symbol_name":"JPMorgan Funds - ASEAN Equity A (acc) SGD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2451937938","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2451937938","pubTimestamp":1721108640,"columns":[],"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":"0544 GMT - Singapore Telecommunications stands to gain from its investments in data centers, OCBC Investment Research says in a note. Singtel's recent two data-center deals align with the company's new strategic plan to drive growth, and the telecom conglomerate is likely to benefit from robust data demand in the region, the research team says. Singtel's growth strategy, dubbed Singtel28, is aimed at improving business performance via initiatives such as cost optimization, and the company has identified a pipeline of around S$6 billion in monetizable assets to fund growth initiatives and dividend payments, the team adds. OCBC raises the stock's fair-value estimate to S$3.50 from S$3.04, with an unchanged buy rating. Shares are 0.7% higher at S$3.03. 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