Broker Name: JPMorgan
Date of Report: July 27
Excerpt from JPMorgan report
Report Summary:
- JPMorgan is Neutral on Singapore Airlines (SIA).
- Target Price: S\$7.80.
- Key Action: Hold.
- Major Highlights:
- Fuel hedging will help mitigate elevated fuel costs.
- Net income expected to decline more than 30%, mainly due to SIA’s exposure to Air India.
- Core business results remain “healthy,” but headline-level earnings could look weaker.
- Revenue forecast: S\$5.91 billion.
- Operating income estimate: S\$424 million.
- Net income estimate: S\$126 million.
- Actionable Insight: Investors should note the Neutral call and target price of S\$7.80, with no upside forecast and risks tied to Air India exposure.
Above is an excerpt from a report by JPMorgan. Clients of JPMorgan can access the full research report from the broker’s website.
