In a report released today, Paul Chew from Phillip Securities maintained a Buy rating on Singtel, with a price target of S$5.35.
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Paul Chew has given his Buy rating due to a combination of factors that highlight Singtel’s strong performance and growth potential. The company’s underlying net profit increased by 14% year-over-year, driven by significant earnings growth in regional associates and subsidiaries. Bharti India, in particular, showed an impressive 81% increase in earnings, contributing substantially to the overall profit.
Additionally, Singtel’s strategic initiatives, such as the disposal of stakes in Gulf Development and Bharti Airtel, are expected to unlock further value. The company has also embarked on a share buyback program, which is anticipated to enhance shareholder value. Furthermore, the expansion into new data centers and services like GPU-as-a-Service is expected to be a future growth driver, supporting the positive outlook for Singtel’s stock.
In another report released on November 14, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a S$4.50 price target.