Singtel’s plan to trim its 29% stake in Bharti to 24%, aligning with the Mittal family’s holding, could unlock around $8 billion in shareholder value over time. The share price has already increased 14.7% over the past month, helped by a flight to safety following global trade tariff concerns.
Prem Jearajasingam of CGS International has downgraded Singapore Telecommunications (SGX:Z74
) (Singtel) to “hold” from “add” while raising the target price to $4 from $3.75 previously.
The revised target price reflects stronger valuations of Singtel’s regional associates, particularly Bharti Airtel whose shares have risen 18% year-to-date. However, Jearajasingam notes that Singtel’s FY2026 P/E of 22.2 times is one standard deviation above its post-2012 12-month forward P/E trading range, which has marked the peaks of its P/E multiples since 2021.
