“Our target price is pegged to [an] FY2023 P/B of 1.12x, which is 2.0 standard deviation above SIA’s historical average of 0.96x during the pre-pandemic years. SIA’s current price of $5.23 implies an FY2023 P/B of 1.20x,” he says.
UOB Kay Hian analyst Roy Chen is maintaining his “hold” call for Singapore Airlines (SIA), with passenger volume recovering and strong airfares returning.
Chen has also kept his target price unchanged at $4.88.
