Following the promising set of results, CGS-CIMB Research and PhilipCapital have kept their “reduce” calls while Citi Research has kept its “sell” call. CGS-CIMB has lowered its target price to $5.47 from $5.66 previously, PhilipCapital has lowered its target price to $5.45 from $6.80 and Citi has maintained its target price at $6.54.
Analysts are more negative on Singapore Airlines (SGX:C6L
) (SIA) following the group’s record-breaking 1HFY2024 ended Sept 30 results.
On Nov 7, SIA announced that its 1HFY2024 net profit came in at $1.44 billion, a 55.5% improvement y-o-y, spurred by robust demand for air travel through the Northern-summer travel season and a rebound in passenger traffic to North Asia.
