In a Thursday note, lead analyst Derrick Heng recalls how SATS’ 3Q gateway services revenue grew 2.2% y-o-y, which in their opinion, mirrors the positive trends as seen in Changi Airport and SIA’s latest set of results.
SINGAPORE (Feb 10): Maybank Kim Eng is maintaining its “sell” call on SATS with an unchanged price target of $3.76, despite noting a “good quarter” where the gateway and food solutions provider’s core PATMI came in 14% higher than the research house’s estimate.
(See also: SATS reports 7.4% rise in 3Q earnings to $65.1 mil)
