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racketgames,
this is thread on SIA...not SGX.
Anyone with take on Sgx?
tanglinboy,
Oil price down/ SIA price up.
What's the good news on SIA? Top gainer today.
52wk high of $16 breached, climbed from $11.90 low, looks like it is benefiting from the drop in oil prices (RSI=63 slight overbought)
KE has raised its target price to $18.00 from $16.40, saying sector valuations have advanced as a result of lower crude prices.
It said the effects of lower oil prices would be muted in the near term because the spread between crude oil prices and jet fuel prices remained high, at around US$15-20 a barrel, and 55% of SIA's fuel requirements until March were hedged at US$81 per barrel.
KE said that while higher fuel prices had limited SIA's net profit, its passenger load factors had remained strong, lifting its revenue to a new quarterly record of $3.61 bln.
The brokerage said it expected SIA's cargo unit to perform better in the second half, which is its high season.
"SIA's valuations are still looking reasonable, at a core PER of 14x and price-by-volume ratio of 1.3x, versus its peer group medians of 17.8x and 1.4x, respectively," KE said in a note.
Deutsche Bank says it has raised its target price to $17.30 from $15.50 sgd, while keeping its "buy" recommendation for the stock.
"Despite the recent share price rally, we believe that SIA is still a 'buy', given the restricted capacity environment, reasonable valuation and possibility of a special dividend," Deutsche Bank analyst Stacy Shi said in a note.
Deutsche Bank has raised its forecast of net profit for SIA for this financial year by 24% to $1.55 bln from $1.25 bln to take into account exceptional gains from the sale of buildings, arrangements to sell and lease back aircraft and the possible sale of Singapore Aircraft Leasing Enterprise.
"Given the increasing possibility of capital restructuring and restricted capacity environment, SIA should trade near its historical average," Shi said.
She expects SIA to have net cash of $2.40 per share by the end of this financial year and that it could easily pay a special dividend of $1.40 per share or buy back 115 mln shares (a capital reduction of 9%).
DBS Vickers has raised its target price to $15.30 in view of the more positive outlook ahead for SIA.
"Looking ahead, we believe SIA's core passenger airline (business) should continue to benefit from strong travel demand, and with fuel prices falling, we expect to see SIA's cargo (business) turn in a better performance as well, " the brokerage said in a note.
While SIA posted a weaker-than-expected second quarter results, with net profit falling 14.6% yoy to $293.2 mln, DBS Vickers noted that the airline's first-half result was still credible given the high fuel costs.
JP Morgan has raised its target price to $16.50 from $15.00 to reflect the flag carrier's strong fundamental earnings potential and hidden value remaining in the business.
"We have also included a $500m exceptional gain in our 2007 ending March from the pending disposal of SIA's stake in Singapore Aircraft Leasing Enterprise," JP Morgan said in a note.
"Given the strong demand for aircraft assets presently, we believe SIA is well placed to book a large gain on their investment."
To take into account the recently announced delayed delivery of A380 aircraft, JP Morgan said it raised its pre-exceptional earnings per share forecasts for SIA for the current fiscal year by 16.3% to $1.758, for fiscal 2008 by 6.6% to $1.339 and for fiscal 2009 by 6% to $1.487, as capacity deferral will likely push near-term load factors higher.
UBS said it has raised its target price to $19 from $17 previously after it revised up its earnings estimates for the flag carrier given the continued strength of the corporate travel market and the recent declines in oil prices.
"The strength of the corporate travel market continues to underpin our bullish view on SIA," UBS said in a client note. "The recent declines in the oil price are indeed helpful and have led us to raise our fiscal year (to March) 2008 and 2009 forecasts, as we move to a US$75 per barrel jet fuel price assumption, from US$82 per barrel," it added.
The brokerage expects the airline's net profit to grow to $1.38b in the year to March 2007 from $1.14b last year, then to $1.70b in the year to March 2008, and to $1.9b in the year to March 2009.
My observation a week ago still holds.... will either continue going down or be stagnant
Citigroup cut its recommendation for
Corrine Png wrote in a report the stock was trading at a peak valuation of 1.3x price to book value on Citigroup's above-consensus estimates, the highest in the past three years.
Shares in SIA, the world's second-biggest airline by stock market value, closed at $15.80 on Monday, near Citigroup's new target price of $16.10.
I believe SIA has just undergone a trend reversal. Now heading south
Probably becuse it already went up too much.
SIA should be gaining today ... oil price fall.
How come SIA still top loser?
How come SIA still top loser?
hey... you're right man... SIA one of the top losers today.
Oil up today .... SIA will be hit tomorrow.
Tks newnew, tks fore the info! Cheerz!
Another infd:-
SIA might ask for over 6 million US dollars, said the report
http://www.freerepublic.com/focus/f-news/1464662/posts
Hi chipchip 66
Airbus had previously put back a delivery date for Qantas, resulting in the payment of compensation to the airline of $104 million which was booked in the carrier's 2005/06 results.
http://news.ninemsn.com.au/article.aspx?id=106505
Your guess is as good as mine ! ;) so can find out from SIA 2006/07 result i think ! Divdends up??