Singapore Stock Market News
SMRT - Capex guidance a negative surprise
StockFanatic
Publish date: Mon, 05 May 2014, 10:46 AM
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Results briefing takeaways
■ Still no visibility on the specifics of the new business models for its fare-based business.
■ Lower FY3/15E-17E earnings by 14-51% to reflect higher depreciation charges. TP falls to SGD0.50, still based on 14x FY3/15-17E P/E. Reiterate SELL.
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