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SATS an attractive 'buy' at price levels below $5.15, says OCBC

Michelle Zhu
Michelle Zhu6/14/2018 11:37 AM GMT+08  • 2 min read
SATS an attractive 'buy' at price levels below $5.15, says OCBC
SINGAPORE (June 14): OCBC Investment Research is upgrading its call on SATS Limited to “buy” from “hold” with an unchanged fair value of $5.50.
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SINGAPORE (June 14): OCBC Investment Research is upgrading its call on SATS Limited to “buy” from “hold” with an unchanged fair value of $5.50.

The upgrade comes on the belief that the counter now looks attractive at its Wednesday closing price of $5.06 – and will continue to remain so as long as it remains below the share price of $5.15, especially given the group’s expanding presence in Asia.

In a Thursday report, lead analyst Eugene Chua says he sees SATS to ride on the continued strong growth of Changi Airport, which posted encouraging statistics for April 2018, in the analyst's view. This will ultimately benefit the gateway services and food solutions provider considering how it handles about 80% of the traffic throughput in Changi Airport alone, says Chua.

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