“[Singtel] offers a combination of cash-flow generation from its developed market portfolio in Australia and Singapore, and growth elements through its emerging-market exposure in Indonesia, India, Thailand and the Philippines,” the analysts write in their Dec 8 report.
Citi Research analysts Arthur Pineda and Luis Hilado have resumed their coverage on Singapore Telecommunications (Singtel) with a “buy” call and higher target price of $5.08 after the brokerage suspended ratings.
Citi last had a “buy” call on the telco and a target price of $4.92 in September. The higher target price comes as the analysts have revised their valuations for Singtel’s businesses, Bharti, Gulf, AIS, Telkomsel and its Singapore segment following the telco’s latest results.
