SATS’s results for the 4QFY2024, based on Sum’s estimates, was a “solid beat” while its FY2024 net profit surpassed the street’s expectations by 14%, the analyst writes in his June 4 report.
The analysts at Citi Research, OCBC Investment Research (OIR), UOB Kay Hian (UOBKH) and DBS Group Research have maintained their “buy” calls on SATS following the release of the ground handler’s 4QFY2024 results ended March 31.
While Citi Research and UOBKH have maintained their target prices of $3.01 and $3.22 respectively, OIR’s Ada Lim has upped her target price by 22 cents from $3.09 to $3.31 after revising her estimates. DBS’s Jason Sum has also increased his target price by 20 cents to $3.60 from $3.40, making him the most bullish among his peers.
