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An update from Singapore Post ( (SG:S08) ) is now available.
Singapore Post Ltd. has been downgraded to ‘BBB-‘ by S&P Global Ratings following its decision to divest its Australian logistics and freight-forwarding businesses, which were significant contributors to its operating profits. This strategic shift marks a departure from its previous strategy of establishing a strong presence in Australia, and the company is now focusing on its core postal and logistics operations, which face structural and profitability challenges. The sale proceeds are expected to significantly deleverage the company, bringing it to a net cash position in the next two years, while the stable outlook indicates a cautious approach to future investments and management of industry decline.
The most recent analyst rating on (SG:S08) stock is a Buy with a S$0.77 price target. To see the full list of analyst forecasts on Singapore Post stock, see the SG:S08 Stock Forecast page.
More about Singapore Post
Singapore Post Ltd. operates in the postal and logistics industry, focusing on mail, logistics, and e-commerce solutions. The company has been scaling down its operations, particularly in Australia, and is now concentrating on its core postal and logistics services amid industry challenges.
Average Trading Volume: 10,259,012
Technical Sentiment Signal: Buy
Current Market Cap: S$1.41B
Learn more about S08 stock on TipRanks’ Stock Analysis page.