Citi keeps ‘sell’ on SIA at higher TP of $6.38 on stabilising yield and ‘encouraging outlook’

Citi Research (Citi) analyst Kaseedit Choonawat has kept his “sell” call on Singapore Airlines group (SIA) at a raised target price of $6.38 from $5.98 previously.

His update comes after speaking to SIA’s c-suite. Choonawat writes in his Feb 10 note: “The most notable message was on passenger yield where SIA is now seeing a more stable yield environment with encouraging outlook compared to a slow downward glidepath indicated earlier.”