Philips downgrades target price to $6.80
$SIA(C6L.SG$This report was just released moments ago. Let me digest a bit first. Again, read all analyst reports with a big tablespoon of salt.
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TerraOP : In essence, the report believes that revenue will decline in 23/24 due to competition as competing airlines built up their capacity. I think this will include Cathay Pacific and Air Asia. This will add downward pressures to airfares and thus revenue. Contributions from air cargo will be impacted too as sea freight wrestle back the business lost during covid times. There will be an increase in finance charges due to the accounting for the early redemption of the MCB.
TerraOP : The report is forecasting a dividend of 20 cents for the year 23/24 or a dividend yield of 2.7% based on today's closing price
TerraOP : Let us wait for SIA's 1Q 23/24 results. If SIA's sales revenue continues to increase, the conclusions suggested by the report may not be so relevant.