In his view, the counter is not cheap at its current valuation of 25 times FY18F PE.
SINGAPORE (July 26): DBS Vickers Securities is maintaining a “hold” recommendation on Singapore Post (SingPost) with a target price of $1.26 on the belief that the market is currently pricing in better recovery for both the group’s logistics and e-commerce segments compared to the research house’s estimates.
In a Wednesday report, analyst Sachin Mittal says he expects a slower turnaround with the counter remaining range-bound in the near-term, despite the group having bought back over 3 million shares in the last two months.
