As observed by the wave of raised target prices across the board following the telco’s 1HFY2025 ended Sept 30 results, which features higher ebit guidance and a higher interim dividend, the $5 mark is something within easy reach, given how Singtel shares have gained 55.66% since the start of the year to close at $4.81 on Nov 20.
For years, Singapore Telecommunications’ (Singtel) share price was rangebound around $2.50 after the stock fell out of favour when it was forced to cut dividends. In July, the share price recovered and crossed the $4 mark as the market finally recognised the latent value the telco held through its sprawling portfolio of assets, including its network of regional associates. A clear operational improvement, plus active capital management, helped as well.
To mark the achievement of $4, dubbed internally as “Project Empat”, a company party was organised, wrote CFO Arthur Lang in a LinkedIn post in July. “So, is there a new project? Well, all I can say is, please continue giving Singtel the support that we need. But it is not a coincidence that we deliberately held the party from ‘4 to 5’ pm,” wrote Lang.
