SATS - CGS-CIMB Research 2022-03-10: Recovery Supported By Government Relief

SATS - Recovery Supported By Government Relief

SATS LTD. (SGX:S58) | SGinvestors.ioSATS LTD. (SGX:S58)
  • On 9 Mar, the government announced a S$500m package to support the recovery of the aviation industry. Extension of relief package by the Singapore government will ease SATS (SGX:S58)'s short-term cost pressure before operations normalise to pre-COVID-19 levels.
  • On 23 Feb, SATS acquired a 16.4% stake in Asia Airfreight Terminal (AAT) for a consideration of ~$58.5m, to bring its total stake to 65.4%. Increased stake in AAT will contribute positively to cargo business, which has benefitted from secular growth of e-commerce during the pandemic.
  • Upgrade SATS to ADD from Hold, with a higher DCF-based target price of S$4.77 (WACC: 7%), after consolidating an estimated share of AAT’s results.





Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.




TAY Wee Kuang CGS-CIMB Research | https://www.cgs-cimb.com 2022-03-10



Read also CGS-CIMB's most recent report:
2023-01-14 SATS - Peek Into Pro-Forma WFS Numbers Ahead.

Previous report by CGS-CIMB:
2022-12-02 SATS - Finalisation Of Funding Structure For WFS Acquisition.

Price targets by 3 other brokers at SATS Target Prices.
Listing of research reports at SATS Analyst Reports.

Relevant links:
SATS Share Price History,
SATS Announcements,
SATS Dividends & Corporate Actions,
SATS News Articles















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