SingTel - Maybank Research 2024-07-01: Raise Target Price By 4% As Airtel Raises India Mobile Prices By 10-21%

SingTel - Raise Target Price By 4% As Airtel Raises India Mobile Prices By 10-21%

Published:
SingTel (SGX:Z74) | SGinvestors.ioSingTel (SGX:Z74)
  • SingTel (SGX:Z74)’s 29%-owned associate Bharti Airtel said on Friday it raised mobile prices across various plans by 10-21% with an average price increase of 15%. Its competitors, Jio and Vi, have made similar price hikes.
  • - Read this at SGinvestors.io -

How much can it help Bharti Airtel lift earnings?

  • Factoring a price elasticity of 60%, we see the price increases lifting Bharti’s FY25-27 India mobile revenues by 7-9% (assuming a 9-month impact for FY25).
  • Further assuming a pass-through impact of higher revenues on EBITDA at 60%, we see India mobile EBITDA rising 7-10% in FY25-27. This translates to an EBITDA lift of INR37-55bn (S$602-903m) for FY25-27.

Raise Singtel earnings estimates by 4-8%

  • - Read this at SGinvestors.io -
  • Factoring in the impact of India mobile prices increasing in our SingTel model, we raise our SingTel earnings estimates 4-8% in FY25-27.

Raise Singtel target price by 4% to S$3.40

  • 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/ 2024-07-01



Read also Maybank's most recent report:
2024-07-02 SingTel NDR Takeaway - Multiple Catalysts & Dividend Clarity; Reiterate BUY.

Price targets by 5 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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