Singapore Airlines' Earnings May Soften -- Market Talk

Dow Jones2024-08-02

0233 GMT - Singapore Airlines' earnings performance may soften over the next few FYs, Maybank Research analyst Eric Ong writes in a note. Maybank keeps a hold rating on the stock but cuts the target price to S$6.55 from S$7.10 after lowering its FY 2025-FY 2027 earnings forecasts by 15%, amid projections of lower yields and higher opex after weak 1Q results. Although travel demand will stay healthy, passenger yields could continue falling amid keener competition, which will hurt low-cost carriers like Scoot more due to price competition, Ong says. SIA's cargo business may remain lackluster given its broader mix of routes that may not see rates rise like other APAC carriers, Ong adds. Shares are 1.3% lower at S$6.16. (kimberley.kao@wsj.com)

(END) Dow Jones Newswires

August 01, 2024 22:33 ET (02:33 GMT)

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Although travel demand will stay healthy, passenger yields could continue falling amid keener competition, which will hurt low-cost carriers like Scoot more due to price competition, Ong says. SIA's cargo business may remain lackluster given its broader mix of routes that may not see rates rise like other APAC carriers, Ong adds. Shares are 1.3% lower at S$6.16. 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Maybank keeps a hold rating on the stock but cuts the target ...</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":"SINGY","symbol_name":"Singapore Airlines Ltd.","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2456741714","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2456741714","pubTimestamp":1722565980,"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":"0233 GMT - Singapore Airlines' earnings performance may soften over the next few FYs, Maybank Research analyst Eric Ong writes in a note. 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