Singapore Stock Market News

SMRT - Reality check; upgrade to HOLD

StockFanatic
Publish date: Tue, 03 Jun 2014, 09:21 AM
StockFanatic
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■ An asset-light, fare-independent model announced for bus may also apply to rail, auguring well for SMRT.

■ Our scenario analysis suggests a wide range of valuation outcome post-transition: Bull= SGD2.09, Base= SGD1.36, Bear= SGD0.98.

Rating raised to HOLD with a higher TP of SGD1.36.
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