Singapore Airlines' Earnings Likely Hit by Higher Fuel Costs, Lower Cargo Yields -- Market Talk

Dow Jones2024-07-23

0433 GMT - Nomura analysts cut Singapore Airlines' core earnings forecast for FY 2025 and 2026, and now expects falls of 21% and 8%, respectively, citing rising fuel prices and lower cargo yields. Geopolitical tensions affecting tariffs and uncertainty surrounding the U.S. presidential elections could also weigh on SIA earnings, they say. They downgrade their rating to neutral from buy and say the stock lacks catalysts; SIA's target price is cut to S$6.75 from S$9.17. SIA shares were recently at S$7.07. (rthvika.suvarna@wsj.com;@RthvikaS)

(END) Dow Jones Newswires

July 23, 2024 00:33 ET (04:33 GMT)

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