Singapore Stock Market News

Singapore Airlines - Value has emerged

StockFanatic
Publish date: Mon, 16 Sep 2013, 11:28 PM
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■ Although outlook is muted, valuation is now attractive at -1.3SD at 0.88x P/BV

■ Several possibilities to unlock its net cash of over S$4.9bn, representing >40% of market cap

■ Potential to return excess net cash to shareholders, which has reach c.S$4.20 ps

■ Upgrade to BUY, TP of S$11.40 (1x FY14 P/BV)
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