- SingTel's share price rallied ~23% since our last published report on 23 May 2024 (SingTel - Positive Growth & Dividend Guidance) and 22% year-to-date.
What drove the share price outperformance?
- - Read this at SGinvestors.io -
- the announced price hikes for both Optus and Bharti;
- improved investor sentiment on SingTel’s growth outlook with a potential turnaround of EBITDA growth after six years’ declines;
- - Read this at SGinvestors.io -
- We see the two data centres deals in line with SingTel’s Singtel28 strategy to drive growth and see SingTel as a beneficiary of strong data demand in the region. The growth from data centres is likely to support the core business which has been facing challenges due to competition and forex headwinds.
Launching Singtel28
- Read more at SGinvestors.io.
Above is the excerpt from report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full report in PDF @ https://www.iocbc.com/.
OCBC Research Team OCBC Investment Research | https://www.iocbc.com/ 2024-07-16
Previous report by OCBC:
2024-05-24 SingTel - Positive Growth & Dividend Guidance.
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
