SingTel - Maybank Research 2024-04-29: Correction Is A Buying Opportunity; Reiterate Buy.

SingTel - Correction Is A Buying Opportunity; Reiterate Buy.

Published:
SingTel (SGX:Z74) | SGinvestors.ioSingTel (SGX:Z74)
  • Following today’s news of SingTel’s goodwill/asset impairment and Optus-TPG network partnership, SingTel share price corrected 2.5%. We see the correction as a buying opportunity as Optus fundamentals have improved on the network pact while the impairment charges are non-cash in nature and thus unlikely to impact SingTel's dividends.

Optus: Management call take-aways

  • - Read this at SGinvestors.io -
  • - Read this at SGinvestors.io -
  • On competition in regional Australia, SingTel's management see potential for Optus to take market share on the back of enhanced network. That said, management sees overall consumer competition remaining rational in Australia.

What drove the impairment charges?

  • Read more at SGinvestors.io.




Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://www.maybanktrade.com.sg/.




Hussaini Saifee Maybank Research | https://www.maybank-ke.com.sg/ 2024-04-29



Read also Maybank's most recent report:
2024-05-23 SingTel - FY24 Results Slight Miss But A Dividend Surprise.

Previous report by Maybank:
2024-05-15 SingTel - Associates' Delivery May Cause Slight FY24E Earnings Miss.

Price targets by 6 other brokers at SingTel Target Prices.

Listing of research reports at SingTel Analyst Reports.

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





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